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Company Qatar Holding LLC
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Statement Re. Proposed Merger XTA and GLEN

Released 12:47 30-Aug-2012
Number 1104L12

RNS Number : 1104L
Qatar Holding LLC
30 August 2012
 

                                                                    

 

 

 

Statement in relation to proposed merger of Glencore International plc ("Glencore") with Xstrata plc ("Xstrata")

 

Doha, 30 August 2012 - QH announces that, although it continues to support the principle of a combination of Glencore with Xstrata, it has determined that it will not support the proposed merger terms of 2.8 new Glencore shares for every one existing Xstrata share.  Accordingly, QH will vote its entire shareholding in Xstrata against the proposed scheme and merger terms at the Scheme Meeting and Extraordinary General Meeting of Xstrata to be held on 7th September, 2012.

 

QH is making this announcement in the interests of market transparency and in order to preserve its ability, under applicable laws, to continue to buy shares in Xstrata as and when it wishes to do so.  QH believes that Xstrata has a strong future, whether in combination with Glencore on acceptable terms or as a stand-alone entity, and that its shares represent an attractive long-term investment. 

 

For further information:

 

Website:           www.qatarholding.qa

Enquiries:          +44 (0)20 7861 3232 (Stephen Benzikie / Alisdair Haythornthwaite)

+44 (0)20 7404 5959 (Mike Harrison / Carole Cable)

 

NOTES TO EDITORS:

 

QATAR HOLDING LLC

 

Qatar Holding, a wholly-owned subsidiary of Qatar Investment Authority, is a global investment corporation and a preferred partner of choice for investors, financiers and other stakeholders.

 

It is envisaged that the already significant investment portfolio of Qatar Holding will continue to grow. Key investments of Qatar Holding include Agricultural Bank of China, Barclays plc, Canary Wharf Group (via Songbird Estates), Credit Suisse Group, Harrods Group, Hassad Food Company, Iberdrola SA, J Sainsbury plc, London Stock Exchange, Lagardere, Porsche, Qatar Exchange, Qatar Telecom, Qatar National Bank, Santander Brasil and Volkswagen AG.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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Statement Re. Proposed Merger XTA and GLEN - RNS