Canadian Regulators OK Glencore, Teck Resources Deal: Future M&A Sanctions Need 'Exceptional Circumstances'
Canadian Regulators OK Glencore, Teck Resources Deal: Future M&A Sanctions Need 'Exceptional Circumstances'
The Canadian government approved Glencore's (OTCPK: GLCNF) acquisition of Teck Resources (NYSE:TECK) metallurgical coal business Elk Valley Resources (EVR) for more than $6.93 billion.
加拿大政府批准了Glencore（OTCPK：GLCNF）以超過69.3億美元收購Teck Resources（NYSE：TECK）煤炭業務Elk Valley Resources（EVR）的交易。
The deal is expected to close on July 11, with Glencore acquiring a 77% stake in the British Columbia-based company. After that, the Swiss multinational miner could explore a spinoff of its coal business.
預計該交易將於7月11日完成，Glencore將獲得這家總部位於不列顛哥倫比亞省的公司77％的股份。此後，這家瑞士跨國礦業公司可能會探索拆分其煤炭業務。
This approval follows Glencore's attempt last year to execute a hostile takeover of Teck Resources, Canada's largest diversified miner, which faced strong objections from the government and rejection from shareholders. Eventually, Glencore shifted focus and successfully negotiated to acquire Teck's metallurgical coal business.
去年，Glencore試圖對加拿大最大的多元化礦業公司Teck Resources進行敵意收購，但面臨政府的強烈反對和股東的拒絕。最終，Glencore改變了方針，併成功地談判收購了Teck的冶金煤業務。
"The acquisition of EVR will further enhance the quality of our portfolio, broadening our ability to provide high-quality steelmaking coal, an important transition-enabling commodity, to customers around the world as well as contributing significant expected cashflows to the Glencore group," said Glencore CEO Gary Nagle.
Glencore首席執行官Gary Nagle表示：“收購EVR將進一步提高我們的組合質量，擴大了我們向全球客戶提供重要的鋼鐵煤炭及其他貢獻顯著的現金流量的能力。”
To secure approval, Glencore made several commitments to ensure the stability and sustainability of the Canadian operations. These include:
爲了獲得批准，Glencore做出了多項承諾，以確保加拿大業務的穩定和可持續性。這包括：
- Maintaining a Canadian head office for EVR in Vancouver and regional offices in Calgary and Sparwood for at least ten years.
- Ensuring the majority of EVR's directors are Canadian for the next decade.
- Filling at least 66% of all executive and senior management roles with Canadians.
- Maintaining significant employment levels at EVR for at least five years.
- Adhering to binding environmental commitments, extending stewardship of the assets until 2050, beyond existing regulatory obligations.
- Engaging constructively and meaningfully with Indigenous Nations in the Elk Valley region.
- 在溫哥華保持EVR的加拿大總部，並在卡爾加里和斯帕伍德等區域設有區域辦事處至少十年。
- 確保在未來十年內EVR的大多數董事是加拿大人。
- 在未來五年內至少將66％的執行和高級管理人員聘用加拿大人。
- 在未來五年內維持EVR的顯著就業水平。
- 遵守有約束力的環境承諾，將資產的管護延長至2050年，並超越現有的監管要求。
- 與Elk Valley地區的土著民族進行建設性和有意義的互動。
For Teck, the sale of the coal business marks a new era. Teck CEO Jonathan Price stated the company will now "entirely focus on providing metals that are essential to global development and the energy transition," such as copper.
對於Teck來說，煤炭業務的出售標誌着一個新時代的開始。Teck首席執行官Jonathan Price表示，該公司現在將“完全專注於提供對全球發展和能源轉型至關重要的金屬產品，比如銅”。
The proceeds from the sale are expected to help Teck with enough funding to increase copper production by 30% as early as 2028. Shareholders will also benefit, with Teck planning to return $2.6 billion and reduce debt by up to $2 billion.
這筆交易的收益預計將爲Teck提供足夠資金，使其在儘早的2028年將銅的產量增加30％。股東們也將從中受益，Teck計劃返還26億美元並減少多達20億美元的債務。
The approval of this deal is part of Canada's broader strategy to regulate foreign capital in the mining sector more strictly.
這筆交易的批准是加拿大更加嚴格地監管礦業領域外資的廣泛策略的一部分。
"Canada welcomes foreign investment and acknowledges its importance to the mining sector. However, the government will not hesitate to act when it is of the view that a transaction would be harmful to Canada's economic interests or the environment," said Industry Minister François-Philippe Champagne.
“加拿大歡迎外國投資並認識到其對礦業部門的重要性。然而，當政府認爲交易有害於加拿大的經濟利益或環境時，政府不會猶豫採取行動，”工業部長François-Philippe Champagne表示。
"Future mergers and acquisitions involving Canadian mining firms engaged in critical minerals operations will only be sanctioned under the most exceptional of circumstances," he added.
他還補充說：“未來涉及從事關鍵礦物運營的加拿大礦業公司的合併和收購只有在最特殊的情況下才會獲得批准。”
Now Read:
現在就閱讀吧:
- Anglo American's Coal Asset Sale Faces Hurdle After Fire At Major Mine
- 安格洛美洲的煤炭資產銷售面臨一道障礙，因爲該公司一家主要煤礦發生火災。
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to licensing@benzinga.com to get started!
Benzinga Mining是礦業公司和零售投資者之間的橋樑。聯繫 licensing@benzinga.com開始吧！
Image: Shutterstock
圖片：shutterstock
譯文內容由第三人軟體翻譯。