Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Glencore    GLEN   JE00B4T3BW64

GLENCORE

(GLEN)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Glencore : Switzerland helps Brazil prosecutors with probe into major oil traders

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/11/2019 | 03:25pm EDT
FILE PHOTO: The logo commodities trader Glencore is pictured in Baar

GENEVA (Reuters) - Swiss authorities are assisting Brazilian prosecutors in their investigation into an alleged corruption scheme involving global commodity trading firms Vitol, Glencore and Trafigura, a spokesman for the Office of the Attorney General of Switzerland said on Monday.

The spokesman said the attorney general's office had received requests between June 2018 and January 2019 for "mutual legal assistance" from Brazilian prosecutors relating to their probe.

Brazilian prosecutors have alleged that executives of the commodities companies, including some in the United States, were involved in improper payments to executives at Brazil's state-run oil firm Petroleo Brasileiro SA.

The U.S. Justice Department has launched its own investigation into these business dealings.

The attorney general's spokesman added the requests concerned "in particular two of the three companies mentioned, as well as several natural persons (individual people). These requests are still being executed." He did not identify the two companies or the individuals.

Brazilian federal prosecutors and the trading firms did not immediately respond to a request for comment.

Vitol and Glencore have previously said they are cooperating with Brazilian authorities, and Trafigura has said it takes the allegations seriously. All three have been suspended from business dealings with Petrobras.

In December last year, Brazilian prosecutors alleged the three firms and others collectively paid at least $31 million in bribes over a six-year period to Petrobras officials to secure advantages in deals.

The announcement marked a new phase in the years long "Car Wash" corruption probe that has toppled presidents in two countries and sent more than 130 politicians and businessmen to jail across Latin America.

Swiss, U.S. and Brazilian authorities have worked closely on Car Wash cases that led to the world's largest ever leniency deal after industrial conglomerate Odebrecht agreed to pay $2.6 billion.

The Swiss attorney general announced in November 2016 that it had opened a criminal probe into a Trafigura employee as part of a wider investigation into suspected corruption at Petrobras.

The spokesman said that investigation was ongoing, without providing an update.

(Reporting by Julia Payne; Editing by Mark Potter)

By Julia Payne

Stocks mentioned in the article
ChangeLast1st jan.
GLENCORE -0.87% 337.65 Delayed Quote.16.80%
PETROLEO BRASILEIRO SA PETROBRAS 0.11% 26.75 End-of-day quote.17.81%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GLENCORE
05:06aGLENCORE : Katanga names Glencore Coal's chief development officer for top job
RE
04/17Katanga Mining Names Jeff Gerard CEO
DJ
04/15Glencore Subsidiary to Resume Cobalt Exports From Congo
DJ
04/10GLENCORE : How Trafigura lost $254 million on oil and gas hedges
RE
04/04EXPLAINER : How countries are getting tougher with mining companies
RE
04/04How countries are getting tougher with mining companies
RE
04/01BUNGE : Former Louis Dreyfus boss was ousted after Glencore overture
RE
04/01Louis Dreyfus CEO Left After Making Glencore Approach -FT
DJ
03/29GLENCORE : announces refinancing and extension of its Revolving Credit Facilitie..
AQ
03/29Glencore Refinances Credit Lines
DJ
More news
Financials ($)
Sales 2019 215 B
EBIT 2019 8 179 M
Net income 2019 4 947 M
Debt 2019 27 289 M
Yield 2019 4,39%
P/E ratio 2019 11,73
P/E ratio 2020 10,42
EV / Sales 2019 0,41x
EV / Sales 2020 0,39x
Capitalization 61 389 M
Chart GLENCORE
Duration : Period :
Glencore Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends GLENCORE
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 4,77 $
Spread / Average Target 7,5%
EPS Revisions
Managers
NameTitle
Ivan Glasenberg Chief Executive Officer & Executive Director
Anthony Bryan Hayward Non-Executive Chairman
Steven F. Kalmin Chief Financial Officer
Peter Roland Coates Non-Executive Director
Leonhard Heinrich Fischer Independent Non-Executive Director
Sector and Competitors
1st jan.Capitalization (M$)
GLENCORE16.80%61 389
CHINA SHENHUA ENERGY COMPANY LIMITED12.92%57 855
COAL INDIA4.51%22 336
SHAANXI COAL INDUSTRY CO LTD27.42%14 174
CHINA COAL ENERGY COMPANY14.84%9 146
YANZHOU COAL MINING CO LTD38.84%7 607