Trafigura hikes stake in Nyrstar

Author: Paul Ploumis
03 Nov 2014 Last updated at 05:22:43 GMT
AMSTERDAM (Scrap Monster): According to the sources, the world's second largest in industrial trading, Trafigura, is planning to double its stake in the metal company by 10 percent, with an investment of 12 0 million dollars at the present holding, making the trading company, the biggest investor in the former, at the current year.

The commodity trader, Trafigura, under the pressure on margins, has  planned to invest under only the secured metals, and sign the deal to supply according to this agenda only.

According to the information given by reliable sources, the trading company, Trafigura, is planning on to take over its rival, Nobel by consuming the  sales agreement of Nyrstar, which was signed by Nobel, a year ago, by using its higher shareholdings on the company, to attract some secured marketing rights for the company.

The sources, states that, the trading company would raise their stake in the zinc manufacturing company to about, 20 percent to 25 percent, which would definitely give the  trader importance and makes it easier to influence the decisions taken by the board.

Even so the trading company, Trafifgura, declined to comment on the matter, and later, one of the spokeswomen of the company stated that, the stake at Nyrstar is only considered to be a financial investment.