Ex-Xstrata CEO Raises $5.6 Billion, Ready for Acquisitions
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Mick Davis, former chief executive officer of Xstrata Plc, completed his “initial” fundraising of $5.6 billion from investors and is ready to begin purchases at a time when large mining companies are divesting assets.
X2’s funds comprise $4 billion in committed equity capital, available for immediate draw-down, and $1.6 billion in conditional equity capital, the London-based company said in a statement on Thursday.