Mergers News

JRI to sell 2 grain elevators in Saskpool deal

WINNIPEG, Manitoba, July 5 (Reuters) - Canada’s antitrust regulator has ordered James Richardson International Ltd., Canada’s second-largest grain handler, to sell two Manitoba grain elevators after a recent consolidation in the sector.

Privately held JRI acquired 15 grain elevators and 11 crop supply centers as part of a deal that saw Saskatchewan Wheat Pool SWP.TO take over Agricore United to form the country's largest grain handler.

The Competition Bureau said JRI must sell elevators at Glossop and Swan River, Manitoba, as part of that arrangement.

The regulator said Saskpool has completed the sale of nine other elevators and a port terminal to Cargill Ltd., the country’s third-largest grain company.

Saskpool also completed the sale of another Vancouver port terminal formerly owned by Agricore to Alliance Grain Terminal Ltd., a consortium of six small grain companies formerly known as Terminal West Ltd.

$1=$1.06 Canadian