BRIEF-Canada Approved Glencore´s Acquisition of Teck´s Coal Assets
July 4 (Reuters) -
* CANADA: GOVERNMENT OF CANADA APPROVES GLENCORE PLC'S TAKEOVER OF TECK RESOURCES LTD
* CANADA: APPROVED THAT GLENCORE WILL ACQUIRE TECK RESOURCES´ METALLURGICAL COAL BUSINESS, BC-BASED ELK VALLEY RESOURCES
* CANADA: AS PART OF THE REVIEW PROCESS, GLENCORE HAS PROVIDED A SIGNIFICANT PACKAGE OF LEGALLY BINDING COMMITMENTS IN SUPPORT OF THE TRANSACTION
* CANADA: FOR A PERIOD OF NO LESS THAN 10 (TEN) YEARS, GLENCORE WILL ESTABLISH AND MAINTAIN A CANADIAN HEAD OFFICE FOR EVR IN VANCOUVER, BC
* CANADA ON GLENCORE-TECK DEAL: FOR A PERIOD OF NO LESS THAN 5 YEARS, GLENCORE WILL MAINTAIN SIGNIFICANT EMPLOYMENT LEVELS AT EVR
* CANADA: GOVERNMENT HAS SECURED COMMITMENT FROM TECK TO REINVEST SIGNIFICANT AMOUNT OF PROCEEDS OF DEAL INTO ITS COPPER GROWTH PORTFOLIO
* CANADA ON GLENCORE-TECK DEAL: GLENCORE MADE BINDING UNDERTAKINGS TO ENSURE COMMITMENT TO ENVIRONMENTAL PRESERVATION, STEWARDSHIP OF LIABILITIES
* CANADA ON GLENCORE-TECK DEAL: GLENCORE COMMITS TO AN ADDITIONAL $350 MILLION INVESTMENT IN REHABILITATION AND CLOSURE ACTIVITIES OVER 5 YEARS
* CANADA ON GLENCORE-TECK DEAL: SECURED COMMITMENT FROM TECK TO REINVEST PROCEEDS FROM TRANSACTION INTO COPPER GROWTH PORTFOLIO Further company coverage: