April 15, 2015 / 2:13 PM / 2 years ago

Bunge, Saudi entity buy majority stake in CWB

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below