Bunge sells five grain elevators to comply with federal merger conditions
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Bunge recently sold five grain elevators in Western Canada. The transactions are part of the divestiture commitment Bunge made with the federal government, in order to receive regulatory approval for its merger with Viterra.
Local companies have acquired the facilities. Direct Grain Limited will operate the Dixon, Sask. site, Linear Grain purchased the assets at Fannystelle, Man., and BP & Sons Grain and Storage Inc. bought the Beausejour, Tucker, and Coulter, Man. sites.
A tentative agreement to sell the final and sixth facility, located in Valparaiso, Sask., has been reached, subject to approval by the Minister of Transport. Closing is anticipated to take place shortly after the approval is received.
As part of Bunge’s agreement, the facilities have been held separate from the rest of Bunge’s business and run by an independent Hold Separate Manager since July 2.
