Glencore Buys Out Billionaire With $1 Billion Congo Deal

Glencore Plc agreed to a $960 million deal with Israeli billionaire Dan Gertler to buy out his holdings in two Congolese copper and cobalt mines, ending a decade-long relationship in which both built up key mining assets in the country. Glencore will pay Fleurette Group, a company owned by Gertler’s family trust, $534 million cash after all debts are paid, the company said in a statement.