Katanga now a wholly owned Glencore subsidiary

Democratic Republic Congo-focused Katanga Mining is now wholly-owned, directly or indirectly, by multicommodities trader and miner Glencore, having completed the going-private transaction announced in April.

The company has applied to the Toronto exchange to delist its common shares.

Shareholders on June 2 approved the amalgamation with 836074 Yukon, in terms of which shareholders, other than Glencore International AG (GIAG), were entitled to receive C$0.16 in cash for each pre-amalgamation common share of the company, for an aggregate consideration of C$52-million.