The logo of commodities trader Glencore is pictured in front of the company's headquarters in Baar, Switzerland, July 18, 2017.
In June, global miner Glencore (GLEN.L), Chrysler parent Stellantis (STLAM.MI) and Volkswagen's (VOWG_p.DE) battery unit PowerCo agreed to back the deal through an equity investment.
Weak economic data from the world's largest metals consumer China, which it has reported since August, affected the investors' appetite for the deal, a source, directly familiar with the situation, told Reuters.
"The deal fell apart over price," said another source familiar with the situation, adding the price was higher than the buyers considered realistic after the nickel price declined.
Reporting by Polina Devitt and Clara Denina; editing by Timothy Gardner and David GregorioOur Standards: The Thomson Reuters Trust Principles.
Persons:
Arnd, ACG, Glencore, Appian, Sibanye, Polina Devitt, Clara Denina, Timothy Gardner, David Gregorio Our
Organizations:
REUTERS, Appian Capital, Chrysler, Reuters, South Africa's, Thomson
Locations:
Baar, Switzerland, London, Appian, China, Stillwater