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Article: Mitsubishi Corporation to Raise Stake in American Grain Company.
- Article from:
- JCN Newswires
- Article date:
- June 19, 2007
CopyrightCOPYRIGHT 2007 Japan Corporate News Network K.K. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Tokyo, Japan, June 18, 2007 - (JCN Newswire) - Mitsubishi Corporation ('MC'; TSE: 8058) has decided to acquire an additional 45% stake in Ohio-based FGDI, LLC, through MC's wholly owned grain company, Kansas City-based Agrex Inc. Through this acquisition, Agrex will raise its stake in FGDI from 30% to 75%.
1. Summary of the Acquisition
FCStone Group, Inc., an Iowa-based commodity futures risk management company, currently owns a 70% stake in FGDI, while Agrex has a 30% stake. Both companies have agreed that Agrex will acquire an additional 45% stake in FGDI from the FCStone Group (which will retain a 25% stake in FGDI).
2. Reason for the ...