Independent journal on economy and transport policy
01:37 GMT+2
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Chinese HNA will buy 51% of the logistic activities and storage of producing oil of the Glencore Helvetian
the transaction will have a value of 775 million dollars
April 3, 2017
The group financial, tourist, logistic, aerial and real estate Chinese HNA has signed a binding agreement in order to buy for 775 million dollars 51% of the producing activities of storage of oil and of the logistic activities of the Glencore Helvetian, than work in the mining field and of the trading of the raw materials. According to the forecasts, the transaction will be formalized in the second half of this year.
The operation will involve the creation of new society HG Storage International Ltd. in which they will meet the activities of the Glencore object of the transaction and that it will have a board of directors with three members of nomination of the HNA and two named from the Glencore.
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