GFM Network News


Suitor quits bid for Australia’s GrainCorp

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— Australia’s largest-listed grain handler, GrainCorp Ltd., said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion (C$2.26 billion) takeover bid after due diligence, pushing shares to five-month lows.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 to join GrainCorp’s global malting spinoff

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


GrainCorp says offer not certain enough to make recommendation

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 picks second Alberta terminal site

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 sells stake in Canada Malting owner GrainCorp

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

GrainCorp to join buyer group for Australian wheat marketer

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


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

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