Logistics group CWT will acquire a stake in metals trading firm MRI Trading, Financial Times reports. CWT will pay about $94 million for the 73.8% stake in MRI, which was formed by Marc Rich, the founder of Glencore.

The transaction is expected to be closed by September 2011. As per the deal, CWT will pay $60.8 million on completion, while the remaining $33.2 million will be paid in tranches over the next three years.

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