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

GrainCorp’s global malting spinoff gets shareholders’ blessing

Canada Malting to go to new owner, United Malt Group

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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
Markets, News

Australian terminal deal passes major regulatory hurdle

The deal is a precursor to a ‘demerger’ of GrainCorp’s malt division

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Reuters – Two of Australia’s largest grain handlers are one important step closer to a key asset sale. GrainCorp passed a major regulatory hurdle November 15 to sell its Australian bulk liquid terminals business to ANZ Terminals, propelling its shares around eight per cent higher. The clearance from the Australian Competition and Consumer Commission (ACCC)
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops

Suitor quits bid for Australia’s GrainCorp

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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— Australia’s largest-listed grain handler, GrainCorp Ltd., said that suitor Long-Term Asset Partners (LTAP) has withdrawn its A$2.4 billion (C$2.26 billion) takeover bid after due diligence, pushing shares to five-month lows.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
Canada Malting’s processing plant in Montreal. (CanadaMalting.com)
Crops, Markets

Canada Malting to join GrainCorp’s global malting spinoff

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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.”
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

GrainCorp says offer not certain enough to make recommendation

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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
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

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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
(ADM.com)
Crops

ADM sells stake in Canada Malting owner GrainCorp

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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
Australian countryside near Bendigo, northwest of Melbourne. (CIA.gov)
Crops

GrainCorp to join buyer group for Australian wheat marketer

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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),
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

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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

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