Anglo-Swiss multinational Glencore said Friday it was looking to spend close to $1 billion to buy most of U.S. supermajor Chevron’s assets in South Africa. Glencore said it was looking to take a 75 percent stake in Chevron’s subsidiary in South Africa, and all of Chevron’s unit in Botswana. Combined, Glencore put the value of the deals at $973 million. “Glencore believes that the assets provide an attractive downstream opportunity for its oil business,” the company said in a statement. “The acquisition will include undertakings as to retention of the local management team and workforce.” A minerals-focused company, Glencore has made strides into the energy sector given the overall improvement in commodity prices. In late September, the company signed a multi-year agreement with a […]