Glencore CEO: Looking For Buyout Deals; Doesn't Address Xstrata-Paper

Glencore International PLC (GLEN.LN) will keep looking for buyout deals to snap up, Chief Executive Ivan Glasenberg says in an interview appearing in Saturday's edition of Finanz und Wirtschaft, shortly after the Swiss-based commodities trader launched a A$1.02 billion (US$1.07 billion) offer for Australian nickel miner Minara Resources Ltd. (MRE.AE).

"We are always looking for acquisitions. The fact is, competitors are dramatically cheaper now than they were six months ago," Glasenberg is quoted in an advance print released Friday by Finanz und Wirtschaft.

The Minara bid represents Glencore's first corporate takeover since its May stock floatation.

Glasenberg declined to comment in the interview on whether Glencore could lift its 34.5% stake in Anglo-Swiss miner Xstrata PLC (XTA.LN).

-By Katharina Bart, Dow Jones Newswires; +41 43 443 8043; katharina.bart@dowjones.com

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