Glencore’s acquisition of Xstrata puts Jersey on top of the world

JERSEY topped the table for offshore mergers and acquistions in the final quarter of last year as a result of the purchase by the world’s biggest commodity trader Glencore of mining giant Xstrata.

The head of corporate and commercial at Appleby in the Island, Mark Lewis,
The head of corporate and commercial at Appleby in the Island, Mark Lewis,

JERSEY topped the table for offshore mergers and acquistions in the final quarter of last year as a result of the purchase by the world’s biggest commodity trader Glencore of mining giant Xstrata.

The deal was valued at US$33 billion and was attributed to Jersey as Glencore is incorporated in the Island.

On the flip side, there was a 64% drop in the value of deals in which Jersey companies were targets of mergers or buy outs in the final three months of the year.

A report prepared by global legal and finance group Appleby showed that in the final three months of 2012 offshore markets had their biggest jump in M&A transactions in three years.