| LONDON, March 31
LONDON, March 31 Swiss-based commodities trading
and mining giant Glencore is in advanced talks to sell
a bundle of its global oil storage stakes, sources familiar with
the matter said, following a boom period for storage companies.
If the sale reaches completion, Glencore will likely end up
with minority stakes in the assets. The company owns much of its
storage terminal interests via joint ventures and is selling
half of these stakes, the sources said.
A spokesman for Glencore declined to comment.
"It's an exotic combination of assets with a variety of
functions, mainly storage. It's most, if not all, of Glencore's
global liquid storage," one source said.
The portfolio includes assets in Argentina, Belgium and
Madagascar, the source said.
"As a bundle it would appeal to someone looking for an entry
point to certain countries," the source added.
(Additional reporting by Dmitry Zhdannikov; Editing by Dale