Glencore, the multinational mining and commodities trading company, has expressed interest in the privatization of Larko, an old ailing mining concern, and EYDAP, the Athens water supply company, according to sources reports Kathimerini.
The Swiss-based group is said to consider that Greece presents investing opportunities that it can tap with the ample liquidity it possesses following its public offering of shares at the London Stock Exchange last spring. Glencore raised about $11 billion, of which, to date, only $500 million has been invested in copper mines in Congo.
Larko appears as Glencore’s first target, although such an investment seems small by its standards: In 2010, Larko’s reported revenues of 150 million euros were dwarfed by Glencore’s $145 billion. The multinational is said to have looked into investing in Larko’s nickel mines in 2009, but without finally expressing interest.