Agrium in talks to sell AWB’s commodity management business
15 Dec 2010
Canadian agribusiness, Agrium Inc, which is completing the process of take over of AWB is mulling sale of the Australian wheat exporter's commodity management business.
"Agrium... is in discussions with a number of interested parties for the sale of the AWB's commodity management businesses," the Calgary based company said in a statement.
According to the company the press release had been issued in response to a speculative article in the Australian media.
It added that no definitive agreement had been arrived at with respect to the commodity management businesses and also no assurance of any agreement being reached could be given.
Agrium said there would be no further announcements from its side until either an agreement for the sale was reached or discussions were terminated without an agreement.
Last year Agrium agreed to buy AWB for $1.24 billion, a transaction approved by AWB's shareholders last month.
