Glencore is still bidding for Chevron's South African assets despite China's state-owned energy firm, Sinopec, getting anti-trust approval to purchase the assets on Friday. The assets include Caltex forecourts and a Western Cape oil refinery. Sinopec bid $900-million (about R11-billion) for the 75% stake Chevron owns in its South African and Botswana operations in December 2016 and was announced as a preferred bidder in April last year. But towards the end of the year, Glencore emerged with a rival bid of $973-million, which had the backing of the US company's black shareholders. "There has been no change to the position," said Shamiela Letsoalo, spokesperson for Glencore. The Ivan Glasenberg-owned miner is still seeking regulatory approval for its proposed deal and expects it to close by the middle of the year. Chevron's BEE partners have right of first refusal on any offer for the asset. Chevron spokesperson Jill Koopman said since the tribunal had approved the merger with Sinopec...
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