Bloomberg

(Bloomberg) -- Glencore Plc is in advanced talks to sell a just-under 10 percent stake in its agriculture unit to Canada’s British Columbia Investment Management Corp., people familiar with the matter said.

The commodities trader and miner, which sold a 40 percent stake in the business to Canada Pension Plan Investment Board for $2.5 billion in April, may reach an agreement on the stake sale as early as this week, the people said, asking not to be identified as the information is private. Glencore plans to retain majority control of the business.

A spokesman for Glencore declined to comment. A representative for BCIMC didn’t immediately respond to a call and e-mail outside of regular business hours.

--With assistance from Scott Deveau and Ruth David To contact the reporters on this story: Dinesh Nair in London at dnair5@bloomberg.net, Javier Blas in London at jblas3@bloomberg.net, Matthew Campbell in London at mcampbell39@bloomberg.net. To contact the editors responsible for this story: Aaron Kirchfeld at akirchfeld@bloomberg.net, Amy Thomson, Elizabeth Fournier

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