| Investor takes over grain handler CWB, renames it G3 Canada | |
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WINNIPEG, Manitoba, July 31 (Reuters) - G3 Global Grain Group said on Friday it has closed its investment in Canadian grain marketer CWB, becoming its majority investor, and has renamed the company G3 Canada Ltd. The move clears the way for G3 Global, a joint venture of U.S.-based Bunge Ltd and Saudi Agricultural and Livestock Investment Co, to build new grain-handling facilities at Port Metro Vancouver on Canada's Pacific Coast and on the Canadian Prairies. G3 Canada combines the assets of CWB, including a few country elevators, Eastern Canadian grain-handling facilities and rail cars, with Bunge's Canadian grain assets. G3 Global's C$250 million ($192.65 million) purchase of a 50.1 percent stake in CWB, announced in April, removes a name that long dominated the world grain industry. CWB, or the Canadian Wheat Board, for decades held government-sanctioned marketing control of Western Canada's milling wheat and barley. The Canadian government removed those marketing powers in 2012, and the company operated for several years as a small grain company. ($1=$1.30 Canadian) (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Peter Galloway)
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Bunge is based in United states of america. Bunge is listed in United States of America. Its market capitalisation is US$ 13.5 billions as of today (€ 12.3 billions). Its stock quote reached its highest recent level on January 06, 2023 at US$ 99.95, and its lowest recent point on October 10, 2024 at US$ 96.06. Bunge has 140 400 000 shares outstanding. |