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Initial completion of Glencore and HNA HG Storage International Limited transaction
Glencore plc
(Incorporated in Jersey under the Companies (Jersey) Law 1991)
(Registration number 107710)
JSE Share Code: GLN
LSE Share Code: GLEN
HKSE Share Code: 805HK
ISIN: JE00B4T3BW64
Initial completion of Glencore and HNA HG Storage International
Limited transaction
Glencore plc (Glencore) is pleased to announce it has completed the sale of a 51% interest in HG
Storage International Limited (HGSI) to HNA Innovation Finance Group Co., Limited (HNA), a transaction
which was announced on 31 March 2017.
HGSI is a new vehicle which has consolidated Glencore's petroleum products storage and logistics
businesses into a global portfolio of high-calibre assets, located in strategic trading hubs across Europe,
Africa, the Middle East and the Americas.
Glencore and HNA have also entered into a second agreement pursuant to which three of the original
transaction assets located in the USA will be transferred into HGSI in 2018, subject only to receipt of
satisfactory CFIUS clearance. Of the original purchase price of $775m, $579m is attributable to today’s
closing (subject to customary closing adjustments), with the balance payable upon closing of the second
agreement.
HGSI intends to expand its global footprint through acquisitions and organic growth supported by its
shareholders. A combined board and management team with extensive operational and trading
experience is in place to execute HGSI's growth plans and utilise the strengths of Glencore and HNA
groups globally.
For further information please contact:
Investors
Martin Few ings t: +41 41 709 2880 m: +41 79 737 5642 martin.few ings@glencore.com
Ash Lazenby t: +41 41 709 2714 m: +41 79 543 3804 ash.lazenby@glencore.com
Media
Charles Watenphul t: +41 41 709 2462 m: +41 79 904 3320 charles.w atenphul@glencore.com
www.glencore.com
Glencore LEI: 2138002658CPO9NBH955
Notes for Editors
Glencore is one of the world’s largest global diversified natural resource companies and a major producer
and marketer of more than 90 commodities. The Group's operations comprise around 150 mining and
metallurgical sites, oil production assets and agricultural facilities.
With a strong footprint in both established and emerging regions for natural resources, Glencore's
industrial and marketing activities are supported by a global network of more than 90 offices located in
over 50 countries.
Glencore's customers are industrial consumers, such as those in the automotive, steel, power generation,
oil and food processing sectors. We also provide financing, logistics and other services to producers and
consumers of commodities. Glencore's companies employ around 155,000 people, including contractors.
Glencore is proud to be a member of the Voluntary Principles on Security and Human Rights and the
International Council on Mining and Metals. We are an active participant in the Extractive Industries
Transparency Initiative.
www.facebook.com/Glencore
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www.instagram.com/glencoreplc
www.linkedin.com/company/8518
www.slideshare.net/glencore
www.twitter.com/glencore
www.youtube.com/glencorevideos
Disclaimer
The companies in which Glencore plc directly and indirectly has an interest are separate and distinct legal entities. In this document,
“Glencore”, “Glencore group” and “Group” are used for convenience only where references are made to Glencore plc and its
subsidiaries in general. These collective expressions are used for ease of reference only and do not imply any other relation ship
between the companies. Likewise, the words “we”, “us” and “our” are also used to refer collectively to members of the Group o r to
those who work for them. These expressions are also used where no useful purpose is served by identifying the particular comp any
or companies.
Sponsor
Absa Bank Limited (acting through its Corporate and Investment Banking Division)
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