Bloomberg

(Bloomberg) -- Canada’s largest pension fund agreed to pay $2.5 billion for a minority stake in Glencore Plc’s agriculture unit as the commodity trader and miner advances its plan to sell off assets to curb its debt burden.

Canada Pension Plan Investment Board will acquire a 40 percent stake in the division which handles wheat, corn, barley, biofuels, cotton and sugar, Glencore said in a statement on Wednesday.

To contact the reporter on this story: Jesse Riseborough in London at jriseborough@bloomberg.net. To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net.

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