July 09, 2006

July 9, 2006: Mark Rich, Glencore, Xstrata

From a search for: Mark Rich, Glencore, Xstrata, Brascan

Who is Xstrata, anyway? -- Zug, Switzerland-based company Tavia Grant, Globe and Mail
www.theglobeandmail.com/servlet/story/
RTGAM.20060517.wxstrata0517/BNStory/Business/home

[....] Xstrata's origins go back to 1926, when Sudelektra Holding AG was formed in Switzerland. In 1990, the commodity trading group Glencore International AG bought a stake in Sudelektra. The company changed its name to Xstrata and jumped into the global spotlight in 2002, when it listed its shares on the London Stock Exchange.

Glencore, which controls 38 per cent of Xstrata, has a colourful past of its own. Formerly known as Marc Rich & Co. AG, it was founded by Marc Rich, the commodities trader who was indicted in the U.S. in 1983 on charges of evading more than $48-million (U.S.) in taxes. He left the country for Switzerland and was controversially pardoned by U.S. President Bill Clinton in 2001.

Mr. Rich sold his stake in Marc Rich & Co. for more than $500-million in 1994, the Fortune magazine said. [....]



Mines and Communities.org

Mining marriage a messy affair for Xstrata and Falconbridge
Thirty years ago, Mr., Rich founded Glencore International AG, a secretive trading Goliath also based in Zug. Glencore is now Xstrata's largest shareholder ...

www.minesandcommunities.org/Action/press713.htm

xymphora: Marc Rich, Xstrata and Falconbridge

Xstrata is controlled by a company called Glencore, which was founded by a fellow named Marc Rich (Glencore used to be called Marc Rich & Co. AG). ...

xymphora.blogspot.com/2006/05/marc-rich-xstrata-and-falconbridge.html

Note that a Google search listing for the url includes a space (why?) so I have removed it.

Also, search in one of these: Brascan

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