November 12, 2009
Gavilon to buy AWB Geneva 60 percent of commodity unit
US-based privately held Gavilon Group LLC is set to emerge as buyer of agribusiness AWB Ltd.'s Geneva operation and 60 percent of its Australian Commodities Management unit, according to the Australian Financial Review newspaper.
"The price is thought to be better than book value and, if confirmed, the deal should set the rumour mill grinding once again about corporate activity in the agribusiness arena," the newspaper said without citing a source.
Gavilon, which was formerly the ConAgra Trade Group, bought a sugar terminal at Brisbane Port in September, saying at the time it would improve the site to handle grain and other commodity exports from early 2010, in a move that was "an important investment in our long-term growth strategy."
