Glencore (GLEN.L) announced plans to unload its 23.9 percent stake in South African platinum producer Lonmin (LMI.L) and distribute the shares to its own shareholders. Lonmin (LMI.L) is valued at a total of more than $1.5 billion.
Glencore, which inherited the platinum producer when it swallowed up Xstrata two years ago, said it had decided to spin off its Lonmin stake which did not match its core assets. Source
