Glencore South Africa Oil Investments on Monday announced the close of its acquisition of 75% of Astron Energy in South Africa and 100% of Astron Botswana – the two businesses previously owned and operated by Chevron South Africa.
Glencore said it was looking forward to working with the Astron management team, led by CEO Jonathan Molapo, to drive growth in the businesses, as well as increasing the black economic empowerment ownership and localisation of the business in South Africa.
Off The Shelf Investments, which sold the assets to Glencore, also welcomed the close of the transaction.