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$250M investment gives Winnipeg-based venture majority ownership in CWB commercialization process
By Janyce McGregor, CBC News Posted: Apr 15, 2015 9:34 AM ET Last Updated: Apr 15, 2015 9:34 AM ET
A newly established agribusiness partnership based in Winnipeg has been selected as the majority investor for the former Canadian Wheat Board.
CWB's search process concluded early, with a $250-million investment from G3 Global Grain Group.
A press release from G3 says it has acquired a majority interest, of 50.1 per cent, in CWB, with the minority ownership interest to be held in trust for the benefit of farmers.
The transaction is expected to close in July 2015, it says.
G3 was formed through a partnership between:
- Bunge Canada, a subsidiary of Bunge Limited.
- SALIC Canada Limited, a wholly owned subsidiary of Saudi Agricultural and Livestock Investment Company.
More to come
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