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In a news release, bcIMC said it will be able to appoint one director to the board of Glencore Agricultural Products and will be granted certain reserved matter rights consistent with its shareholding.
“Our investment in Glencore Agri provides an excellent opportunity for bcIMC to increase and diversify our exposure within the agricultural space, a sector we view as critical to supporting rising levels of global prosperity,” says Lincoln Webb, senior vice-president, infrastructure and renewable resources at bcIMC.
“Investing with strong partners and alongside a world-class management team, we believe our long-term investment views and global perspectives align well with the further growth and development of a leading agricultural platform.”
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The transaction, which is expected to close during the second half of 2016, is subject to customary regulatory approvals and closing conditions.