Bunge, Saudi entity buy majority stake in CWB

Wed Apr 15, 2015 10:09am EDT
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TORONTO, April 15 (Reuters) - G3 Global Grain Group, a new joint venture between U.S. grain trader Bunge Ltd and the Saudi Agricultural and Livestock Investment Co, said Wednesday it is buying a majority stake in the Canadian Wheat Board (CWB) for C$250 million ($200 million).

Winnipeg, Manitoba-based G3 is acquiring a 50.1 percent stake in the CWB with the minority ownership interest being held in trust for the benefit of farmers. The transaction is expected to close in July 2015.

($1 = 1.2518 Canadian dollars) (Reporting by Euan Rocha; Editing by Chizu Nomiyama)