Glencore International is seeking to sell at least $1 billion of assets in three to six months to help fund its repurchase of the Prodeco coal unit from Xstrata. According to Bloomberg, the company exercised an option to buy back Prodeco for $2.25 billion plus profits accrued by the unit and cash Xstrata invested. Glencore last year sold the unit for $2 billion to fund its participation in Xstrata’s $6.1 billion rights offer. Coal prices have risen since then. Glencore’s decision to buy Prodeco reflects its view that the fair value of these coal assets comfortably exceeds the repurchase price.