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Tuesday, October 27, 2009
China CIC signs MOU with Glencore (August 2009)
"A manager at a trading and investment firm in Asia, which is a client of Glencore, said top management from Glencore visited CIC in Beijing in August  and signed a memorandum of understanding in which CIC agreed to invest in Glencore’s products or bonds....It was not immediately clear how CIC would work with Glencore, the world’s biggest commodities trader, which typically trades its own book. But Glencore also has a derivatives trading venture with Credit Suisse, which has an expanding business offering commodity investment products to customers....(Note: According to the Financial Times, Glencore owns the Moreno Group, one of Argentina’s key soybean companies, and farms more than 300,000 hectares of leased or owned farmland from Australia to Paraguay.)"
Posted by Elpaso at Tuesday, October 27, 2009