Deals
Ex-Xstrata CEO Davis Raises About $3.75 Billion to Buy Mines
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Mick Davis, the former chief executive officer of Xstrata Plc, raised as much as $3.75 billion from investors to buy assets and turn his X2 Resources into a mid-tier mining company.
The five-member financing group comprises Asia’s largest raw-materials trader Noble Group, private-equity fund TPG Capital and sovereign-wealth and pension-fund investors, X2 said, without naming the funds. It got $2.5 billion of committed and as much as $1.25 billion of conditional equity funding.