Abu Dhabi-based investment fund Aabar Investments PJS says it will invest as much as $1 billion in commodities giant Glencore International PLC's partial share float later this month, AP reported. Aabar, which has big stakes in automaker Daimler and Italian bank UniCredit, said in a release Wednesday it was confirming an $850 million investment in Glencore, with an intention to invest an additional $150 million in the share offering. Aabar said it would make the investment fund the largest cornerstone investor in the IPO. Swiss-based Glencore's IPO later this month could value the company at $61 billion, and the commodities firm is said to be looking for cornerstone investors. The IPO is expected to raise about $10 billion and will be done through two floatations. -- SPA
