Glencore Exits Metals Storage in $177 Million Deal With Infinity

Glencore Plc agreed to sell its metals warehousing business for $176.7 million to Infinity Logistics and Transport Ventures Ltd., exiting from a corner of trading that’s proven lucrative yet controversial in recent years.

The company has been selling smaller assets recently, including oil terminals in the U.S. and some smaller mines, as it simplifies its business. Glencore benefited from owning storage depots in recent years as it collected rent on excess inventories built up during an industrial downturn, but now wants to cash out as others look for access to these facilities.

Glencore acquired the business from Italy’s Pacorini ...