Deals
GrainCorp Seeks Slice of Biggest Crop Handler in Australia
- Proposal needs support from 75 percent of CBH grower owners
- CBH controls 90 percent of grain handled in Western Australia
This article is for subscribers only.
GrainCorp Ltd. swung its support behind a group of growers seeking an initial public offering of the biggest crop handler in Australia with a planned A$300 million ($213 million) investment in a vehicle to help fund the buyout.
The will ensure the Sydney-based GrainCorp gets an equity stake in Co-operative Bulk Handling Ltd., known as CBH, should the farmer-controlled crop handler agree to the IPO plans being put forward by Australian Grains Champion.