Trading giant Marubeni Corp. expects to get as much as ?400 billion ($3.51 billion) from selling the grain business of its U.S. unit Gavilon Agriculture Investment Inc. to Viterra Ltd.
Marubeni will transfer shares of Gavilon to Viterra following a reorganization of Gavilon¡¯s structure, the Tokyo-based company said in a statement on Wednesday. While the price will be determined later, Marubeni said it expects to receive ?300 billion to ?400 billion of funds from the sale, including the collection of loans.
Viterra said in a separate statement that the agreed purchase price is $1.125 billion, plus working capital.
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