(Reuters) -Britain’s Glencore has agreed to sell its struggling copper refinery in the Philippines to the Villar family, headed by real estate billionaire Manny Villar Jr., Bloomberg News reported on Tuesday, citing people familiar with the matter.
The commodities trading firm had already put its Philippine Associated Smelting and Refining Corp, or Pasar, on care and maintenance earlier this year amid a severe pricing crisis.
The Bloomberg report did not disclose a valuation for the deal.
Glencore declined to comment and the Villar family did not respond to a request for comment.
(Reporting by Yamini Kalia and Prerna Bedi in Bengaluru; Editing by Sonia Cheema)
