Swiss commodities giant Glencore is negotiating to sell a stake in its vast agricultural business to the Canada Pension Plan Investment Board, the Wall Street Journal said Tuesday.
CPPIB is reportedly willing to pay as much as US$2.4 billion for a 40 percent stake in the business, with the proceeds going to pay down Glencore's massive debt.
A deal could be announced this week, the newspaper said, citing sources close to the deal.
Neither the company nor the pension fund would comment on the report.
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