Deals Rumor Mill: Glencore Xstrata, Cerberus, IBM

Law360, New York (February 7, 2014, 11:22 AM EST) -- A buyer group led by China Minmetals Corp. is closing in on a deal worth nearly $6 billion that would give it ownership of Glencore Xstrata PLC's sought-after Las Bambas copper project, sources told Bloomberg on Friday. The consortium also includes Citic Metal Co. and China Reform Holdings Corp. Ltd., a state-backed investment outfit. Glencore Xstrata is shedding the Peruvian mine as a condition of its blockbuster merger with Xstrata, imposed by Chinese regulators. The multibillion-dollar project would be one of the largest copper projects sold...
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