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Top related persons:
Glencore - 2 Archer - 2 Bunge - 2 Viterra - 2 Greg Heckman - 2 Anirban Sen - 2 Heckman - 1 Gavilon - 1
Top related locs:
Glencore Brazil United States Viterra Ukraine Rotterdam , Netherlands Teck Resources London
Top related orgs:
Bunge - 2 Daniels - 2 Midland - 2 Agriculture - 2 Thomson - 2 Glencore Agriculture - 1 Cargill - 1 ADM - 1

Search resuls for: "Glencore Agriculture"


4 mentions found


☆ Glencore's 2023 earnings halve on lower commodity prices
  + stars: | 2024-02-21 | by ( ) www.cnbc.com   time to read: +1 min
An employee stands by a logo for Glencore Agriculture in Glencore Plc's offices in Rotterdam, Netherlands. Glencore said on Wednesday lower commodity prices had halved its earnings last year, and slashed its payout to investors, as the company saves to fund the acquisition of a 77% stake in Teck Resources' metallurgical coal business. After two consecutive record years, adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) halved to $17.1 billion from $34.1 billion a year earlier, in line with analysts' consensus estimates of $17.15 billion. In preliminary 2023 results, the miner and trader said net debt stood at $4.92 billion at the end of the year, from just $75 million at the end of 2022. London-listed Glencore's payout of $1.6 billion announced on Wednesday does not include a new buyback scheme, after the existing one ends this month, nor a special dividend, as the company uses its cash to fund the $6.9 billion acquisition of Canadian miner Teck's steelmaking coal unit.
Persons: Glencore Organizations: Glencore Agriculture Locations: Glencore, Rotterdam , Netherlands, Teck Resources, London
☆ Bunge, Viterra will merge to form $34 billion agri-trading powerhouse
  + stars: | 2023-06-13 | by ( ) www.reuters.com   time to read: +4 min
Under the deal, Viterra shareholders will get about 65.6 million shares of Bunge stock, carrying a value of about $6.2 billion, and about $2 billion in cash. Bunge will also assume $9.8 billion of Viterra's debt, according to the statement. Viterra was the third-largest corn exporter and No. Bunge said it plans to repurchase $2 billion of its stock to enhance accretion from the deal to adjusted profit. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion.
Persons: Archer, Bunge, Viterra, Greg Heckman, Heckman, Gavilon, Karl Plume, Anirban Sen, Arunima Kumar, Mrinalika Roy, Caroline Stauffer, Matthew Lewis, Devika Organizations: Bunge, Daniels, Midland, Cargill, ADM, Bayer, Agriculture, Thomson Locations: Canada, Argentina, Brazil, United States, Australia, Viterra, South Australia, Victoria, Chevron, Ukraine, Kharkiv, Dnipro, Mykolaiv, Chicago, New York, Bengaluru
☆ Exclusive: Bunge finalizing $30 billion-plus merger with Viterra -sources
  + stars: | 2023-06-08 | by ( Abigail Summerville Anirban Sen | Abigail Summerville | Anirban Sen | ) www.reuters.com   time to read: +3 min
Bloomberg News had reported on May 25 that Bunge and Viterra were in talks to combine, without providing details on the deal's terms and timing. Acquiring Viterra would bring Bunge revenue's revenues -- $67.2 billion in 2022 -- in line with Archer-Daniels-Midland, which registered sales of nearly $102 billion last year. In early 2017, Viterra, then known as Glencore Agriculture, attempted a takeover of Bunge, which was then valued at $11 billion. In May 2017, Bunge rebuffed Glencore after the latter made an informal approach to discuss "a possible consensual business combination." Viterra expanded its business of buying and selling grain in the United States through its $1.1 billion acquisition of Gavilon last year.
Persons: Bunge, Greg Heckman, Privately, Viterra, Archer, Louis Dreyfus Co, Glencore, Abigail Summerville, Anirban Sen, Jonathan Oatis Organizations: YORK, Bunge Ltd, Glencore Plc, Canada, Plan Investment Board, Columbia Investment Management Corp, Bloomberg News, Daniels, Midland Co, Cargill Inc, Bunge, Midland, Agriculture, Thomson Locations: Ukraine, Glencore, Brazil, Viterra, United States, Gavilon, New
☆ U.S. Commodity Futures Trading Commission levied $2.5 bln in fines last year
  + stars: | 2022-10-20 | by ( ) www.reuters.com   time to read: 1 min
WASHINGTON, Oct 20 (Reuters) - The U.S. Commodity Futures Trading Commission on Thursday said it had imposed over $2.5 billion in restitution, penalties and ill-gotten gains during the fiscal year ending September 30. The CFTC filed 82 enforcement actions in fiscal 2021, with fraud cases representing the largest number of actions, the agency's data showed. More than 20% of the year's cases related to digital assets, the CFTC said in a statement. The CFTC also brought cases related to market manipulation, including its largest ever benchmark manipulation case against Glencore Agriculture B.V. and Glencore Ltd on charges of manipulation of U.S. and global oil markets. Register now for FREE unlimited access to Reuters.com RegisterReporting by Chris PrenticeOur Standards: The Thomson Reuters Trust Principles.
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