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Glencore International AG

Marc Rich to get $100 million for trading firm

MOSCOW - Marc Rich, the billionaire trader pardoned by former President Bill Clinton, will sell his commodities trading company to Russia's Alfa Group for $100 million, a spokeswoman for the Moscow-based concern said.

Alfa Group, one of Russia's biggest industrial and financial groups, plans to combine Marc Rich & Co. Investment AG with its Crown Resources AG unit, creating a company with annual revenue of about $12 billion, Crown chief executive Elliot Spitz said when the sale was announced last month.

"Rich will not have a position in the company," said Nadia Antonova, Alfa Group's spokeswoman.

Rich, 66, fled the United States for Switzerland in 1983...

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