SAN RAMON (dpa-AFX) - Glencore Plc (GLCNF.PK, GLNCY.PK, GLEN.L) is close to a $1 billion deal to buy Chevron Corp.'s (CVX) southern African assets, potentially scuppering an earlier agreement with China Petroleum & Chemical Corp., Bloomberg reported citing three people familiar with the matter.
The Switzerland-based miner and trader will complete the deal within the next six weeks, said one of the people who asked not to be identified because the information is not public. The assets include a 100,000 barrel-a-day refinery in Cape Town and more than 800 gas stations in South Africa and neighboring Botswana.
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