Shanduka Group Increases Stake in Coal Venture

Bloomberg reported that Glencore (LSE:GLEN) sold a stake of Shanduka Coal to the Shanduka Group for $85 million.

As quoted in the market news:

The deal increases Shanduka Group’s stake to 50.01 percent from 30 percent, Phuti Malabie, chief executive officer of Johannesburg-based Shanduka Group, said.

Click here to read the full Bloomberg report.