GFM Network News

More News →

Tag Archives GrainCorp

Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Barley, Crops

GrainCorp’s global malting spinoff gets shareholders’ blessing

Canada Malting to go to new owner, United Malt Group

By ,
Shareholders in the Australian owner of Canada’s biggest malt company have voted nearly all in favour of a spinoff for their worldwide malting assets. During their general meeting Monday in Sydney, participating shareholders in GrainCorp voted over 99 per cent in favour of resolutions which will see the company’s malt business become a standalone ASX-listed […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops, Reuters

Suitor quits bid for Australia’s GrainCorp

By
Sydney | Reuters — Australia’s largest-listed grain handler, GrainCorp Ltd., said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion (C$2.26 billion) takeover bid after due diligence, pushing shares to five-month lows. GrainCorp stock dropped 11 per cent at the open of trade on Tuesday to hit close to where it stood preceding […] Read more
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Barley, Crops, Markets

Canada Malting to join GrainCorp’s global malting spinoff

By
The Australian owner of Canada’s biggest malt company plans to spin it off, along with its other worldwide malting assets, into a new stand-alone malt industry player. Sydney-based GrainCorp announced Thursday it plans to “demerge” its global malting business from its grains and edible oils business, forming two separate ASX-listed companies: MaltCo and “New GrainCorp.” […] Read more
GrainsConnect Canada, whose terminal under construction at Maymont, Sask., is shown here, plans to open an elevator at Huxley, Alta. in 2019. (GrainsConnect.com)
Crops, Reuters

GrainCorp says offer not certain enough to make recommendation

By
Reuters — Australia’s GrainCorp Ltd. on Wednesday said it was providing suitor Long-Term Asset Partners (LTAP) due diligence to put forward a more certain proposal. The country’s largest listed bulk grain handler earlier on Dec. 3 received a buyout proposal from little-known asset manager LTAP in an all-cash deal for A$2.38 billion (C$2.303 billion), or […] Read more
GrainsConnect Canada, whose terminal under construction at Maymont, Sask., is shown here, plans to open an elevator at Huxley, Alta. in 2019. (GrainsConnect.com)
Crops

GrainsConnect picks second Alberta terminal site

By
The joint venture between Australia’s GrainCorp and Japan’s Zen-Noh Grain is taking its Prairie grain handling model to southern Alberta. GrainsConnect Canada announced plans Thursday to build a fourth Prairie high-throughput grain terminal on Canadian National (CN) Railway track at Huxley, Alta., about 75 km southeast of Red Deer. The company — which expects to […] Read more
(ADM.com)
Barley, Crops

ADM sells stake in Canada Malting owner GrainCorp

By
Chicago | Reuters — U.S. agricultural commodities trader Archer Daniels Midland has sold its 19.9 per cent stake in GrainCorp to underwriters UBS, just three years after a failed bid to wholly acquire the Australian grain handler, ADM said Thursday. The sale to the Swiss bank was valued at A$387 million (C$382 million), or A$8.53 […] Read more
Australian countryside near Bendigo, northwest of Melbourne. (CIA.gov)
Crops, Reuters, Spring Wheat

GrainCorp to join buyer group for Australian wheat marketer

By
Sydney | Reuters — Australia’s GrainCorp said Wednesday it was joining a consortium that plans to acquire, then list, Western Australia’s grower-owned Co-operative Bulk Handling Ltd (CBH), the country’s largest wheat exporter. The proposal is led by Australian Grains Champion, a Western Australian grower-led initiative. The acquisition would be valued at A$3 billion (C$2.96 billion), […] Read more
Australia’s GrainCorp, whose Calgary malt plant is shown here, is in on a new joint venture to build Prairie grain handling capacity. (CanadaMalting.com)
Crops, Markets

Japanese co-op, Canada Malting owner make Prairie grain play

By
A major Japanese farm co-operative and the Australian owner of Canada Malting are staking a new joint claim in Canada’s Prairie grain handling sector. Tokyo-based Zen-Noh Grain Corp. (ZGC) and Sydney-based GrainCorp on Monday announced plans to build new grain origination sites in Alberta and Saskatchewan, through a 50/50 Canadian-incorporated joint venture to be based […] Read more

Special Podcast

AgCanadaTV

AGCanadaTV: In Case You Missed It – Your National Ag News Recap for the week ending October 15, 2021.

Sponsored By:
More Videos →

Daily Newsletter

You'll receive current daily news every morning free, as well as market updates and special features.