Bunge sells assets per merger approval
REGINA — Bunge has sold five western Canadian elevators as required under the federal approval for its merger with Viterra.
All five have been sold to local companies, according to a press release.
Direct Grain Ltd. will operate Dixon, Sask., Linear Grain Inc. bought Fannystelle, Man., and BP & Sons Grain and Storage Inc. purchased elevators in Manitoba at Beausejour, Tucker and Coulter.
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A sixth sale, of the facility in Valparaiso, Sask., is still waiting for approval from the federal transport minister. Bunge said it expects that sale to close shortly.
The company said the six facilities had been held separate from the rest of its business and run by an independent Hold Separate Manager since July 2. A government-approved third party monitored the sales process.
Bunge also sold its elevator in Eyebrow, Sask., to F. W. Cobs, but that wasn’t part of its commitment under the merger approval.
Source: producer.com