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May 3, 2011

EXCLUSIVE: Abu Dhabi and hedge funds to back Glencore IPO

LONDON (Reuters) – An Abu Dhabi vehicle, big hedge fund managers and Swiss private banks are set to serve as “cornerstone” investors backing commodity trader Glencore’s $12 billion (7 billion pound) flotation, a person familiar with the matter said.

The listing, which could be London’s biggest ever, will be aided by strong support from cornerstones, who could buy nearly 30 percent of the shares sold — or some $3.6 billion worth, if the listing raises its maximum target of $12.1 billion.

May 1, 2011

Abu Dhabi, hedge funds to back Glencore IPO: source

LONDON (Reuters) – An Abu Dhabi vehicle, big hedge fund managers and Swiss private banks are set to serve as “cornerstone” investors backing commodity trader Glencore’s $12 billion flotation, a person familiar with the matter said.

The listing, which could be London’s biggest ever, will be aided by strong support from cornerstones, who could buy nearly 30 percent of the shares sold — or some $3.6 billion worth, if the listing raises its maximum target of $12.1 billion.

May 1, 2011

Exclusive – Abu Dhabi, hedge funds to back Glencore IPO – source

LONDON (Reuters) – An Abu Dhabi vehicle, big hedge fund managers and Swiss private banks are set to serve as “cornerstone” investors backing commodity trader Glencore’s $12 billion flotation, a person familiar with the matter said.

The listing, which could be London’s biggest ever, will be aided by strong support from cornerstones, who could buy nearly 30 percent of the shares sold — or some $3.6 billion worth, if the listing raises its maximum target of $12.1 billion.

Apr 20, 2011

Sweden’s EQT begins $3 billion alarm firm sale: sources

STOCKHOLM/LONDON (Reuters) – EQT, the private equity firm backed by Sweden’s Wallenberg family, has begun the $3 billion-plus sale of burglar alarm firm Securitas Direct, people familiar with the matter said.

Securitas Direct could interest both rival private equity investors and large listed companies with security operations, including Stanley Black & Decker Inc, Tyco and United Technologies Corp (UTC), some of the people said.

Apr 20, 2011

Sweden’s EQT begins $3bln alarm firm sale -sources

STOCKHOLM/LONDON, April 20 (Reuters) – EQT [EQTPRK.UL], the
private equity firm backed by Sweden’s Wallenberg family, has
begun the $3 billion-plus sale of burglar alarm firm Securitas
Direct, people familiar with the matter said.

Securitas Direct could interest both rival private equity
investors and large listed companies with security operations,
including Stanley Black & Decker Inc (SWK.N: Quote, Profile, Research, Stock Buzz), Tyco (TYC.N: Quote, Profile, Research, Stock Buzz) and
United Technologies Corp (UTC) (UTX.N: Quote, Profile, Research, Stock Buzz), some of the people said.

Apr 17, 2011

Glencore worth up to $69 billion, underwriters say

LONDON (Reuters) – Glencore is already worth as much as $69 billion, with its earnings set to double in two years, according to research from two banks underwriting the commodity trader’s potentially record-breaking listing.

Glencore’s banks are distributing research to potential investors to help convince them to back the previously insular trader as it seeks to raise as much as $12.1 billion.

Apr 17, 2011

Only toughest thrive in Glencore’s trading culture

LONDON (Reuters) – They’re a special breed, likened to robots or followers of a religious sect, such is their unflinching dedication.

Life as a top trader at Glencore, the world’s leading commodities marketing group, means grueling long hours and intense pressure to strike killer deals, salved by handsome financial rewards and a family-like camaraderie.

Apr 16, 2011

Exclusive: Glencore worth up to $69 billion, underwriters say

LONDON (Reuters) – Glencore is already worth as much as $69 billion, with its earnings set to double in two years, according to research from two banks underwriting the commodity trader’s potentially record-breaking listing.

Glencore’s banks are distributing research to potential investors to help convince them to back the previously insular trader as it seeks to raise as much as $12.1 billion.

Apr 15, 2011

Glencore role a comeback for vilified ex-BP boss

LONDON (Reuters) – Former BP Chief Executive Tony Hayward felt “demonized and vilified” over the Deepwater Horizon disaster. A year later, he is landing new senior roles with some of the biggest names in natural resources.

Hayward was dubbed “the most hated — and most clueless — man in America” by New York’s top-selling tabloid the Daily News following the April 20, 2010 blast, which killed 11 men and unleashed the worst oil spill in U.S. history.

Apr 14, 2011

Newsmaker: Ivan Glasenberg’s long walk to Glencore gold

LONDON (Reuters) – As head of the world’s largest commodity trader, Ivan Glasenberg knows everything has a price, even his own closely guarded privacy.

The decision of Glencore International AG GLEN.UL to end years of secrecy with an initial public offering (IPO) puts the publicity-shy 54-year-old fully in the limelight.

    • About Quentin

      "Quentin Webb is a Reuters Breakingviews columnist, covering mergers and acquisitions, corporate finance and private equity. He is based in London. Before becoming a columnist, he was a news reporter for Reuters, where he was most recently European M&A correspondent. He has also worked as a correspondent in Brussels and as a credit-markets reporter. He joined Reuters in 2003 from Legalease, a legal publisher. He has a first-class degree in psychology from University College London."
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