Glencore (LON:GLEN) has launched a share buyback of up to $1 billion, following the completion of its merger between Viterra and Bunge Global. The deal brought in $900 million in cash and a 16.4% stake in the combined company.
The buyback, handled by UBS, is set to run until Glencore’s annual results in February 2026. The company says the move is designed to manage its capital contribution reserves and limit future Swiss withholding tax on distributions and repurchases.
Glencore added it may adjust the structure if a more efficient alternative is found. Further updates are expected later in July or August.
Shares were down 1.5% in London on Monday morning.