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Australia: Treasurer remains headstrong on GrainCorp sale

 |  November 7, 2013

Australia’s treasurer Joe Hockey has said he will not allow his colleagues to bully him on how to proceed with the proposed sale of GrainCorp to US company Archer Daniels Midland, remarks made following deputy prime minister Warren Reuss’ warnings regarding the sale.

Truss warned Hockey against the sale, telling reporters that Australia must “maintain control of its own food security.

Hockey responded by asserting his jurisdiction over foreign investment rules; Hockey will decide on how to proceed with the sale by the end of the year.

The sale of the agriculture business was inked for more than $3 billion.

Full content: The Guardian

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