First Reserve Completes £202 Million Sale of Remaining Shares in Glencore plc
06.12.15
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The Firm has represented affiliates of First Reserve Corporation (“FR”) on the sale of 70,046,228 ordinary shares in Glencore plc (“Glencore”).
The secondary offering, which was effected pursuant a combination of (i) a block trade by way of an accelerated book build; and (ii) an equity selling program (dribble), which, in aggregate, raised net sale proceeds of approximately £202 million.
The sale was of all FR’s remaining shareholding in Glencore.
The London-based Simpson Thacher team included Adam Signy and Charles Leeming (U.K. Corporate and Capital Markets) and Linn Mayhew (U.K. Credit).