Glencore Nabs Chad-Focused Caracal

摘要

Commodities giant Glencore has agreed to buy Chad-focused Caracal Energy for around ￡800 million ($1.3 billion), trumping an earlier planned merger with Canada-listed TransGlobe Energy. Caracal and TransGlobe had agreed a $1.8 billion deal last month that would have combined Caracal's production in Chad with TransGlobe's operations in Egypt and Yemen (IOD Mar.18'14).