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China: Approval won for Japanese trader takeover of US grain supplier

By  |  April 24, 2013
China: Approval won for Japanese trader takeover of US grain supplier

Japan-based commodities trader Marubeni Corp. has welcomed news of China’s Ministry of Commerce’s approval for the company to acquire Gavilon Group LLC, a grain supplier based in the US. The deal will be Marubeni’s largest transaction to date for $3.6 billion. The Ministry of Commerce posted the news on its website on Tuesday, about one year after Marubeni first announced the deal. According to reports, regulators in China have placed conditions on the deal, requiring the parties to divvy-up soybean sales units within China; China is the globe’s largest buyer of soybeans. In addition to grains, Gavilon deals in the businesses of fertilizer and energy trading.

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