S.Africa's Competition Tribunal approves Glencore's bid for Chevron subsidiary


JOHANNESBURG, March 15 (Reuters) - South Africa'sCompetition Tribunal on Friday approved with conditions Glencore's proposed $973 million acquisition of Chevron Corp's subsidiary in the country.

The tribunal said there must be no job cuts at Chevron South Africa as a result of the merger or for five years, the unit must invest 6 billion rand ($416.67 million) in a refinery in the country, and its head office must remain in South Africa.

($1 = 14.4000 rand)

This article appears in: World Markets , Stocks , Economy , Oil , Commodities
Referenced Symbols: CVX ,

More from Reuters


See Reuters News

Research Brokers before you trade

Want to trade FX?