Commodity trader and Glencore’s Black Beethoven Empowerment (BEE) partner, Off The Shelf Investments (OTS), completed the $ 973 million acquisition of Chevron’s downstream assets in South Africa. With this acquisition funded by Glencore, OTS increases its stake from 23 to 98 percent in Chevron South Africa (CSA). The remaining 2% is held by employees…....
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South Africa: OTS and Glencore on Chevron’s assets
By Editor
Mashudu Ramano, CEO of OTS, said, "The birth of Astron Energy, a proud South African company, is an important step in the transformation of the energy sector."
Editor
Kapital Afrik intends to deliver strategic financial information to executives and managers, through a daily newsletter and a website that covers all African finance.
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