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Reuters
Reuters
Business

Graincorp to sell Australian bulk liquid terminals business for A$350 million

FILE PHOTO: The logo for GrainCorp, Australia's largest listed bulk grain handler, adorns a sign at the Burren Junction depot located in the New South Wales town of Burren Junction, located north-west of Sydney in Australia, March 15, 2017. REUTERS/David Gray

(Reuters) - Australian agribusiness company Graincorp Ltd said on Monday it had entered an agreement to sell its Australian bulk liquid terminals business to ANZ Terminals for an enterprise value of A$350 million, as part of an ongoing portfolio review.

Graincorp said it would enter a long-term storage agreement with ANZ Terminals as part of the transaction. The company said in a statement it was also reviewing options for its New Zealand bulk liquid terminals business.

(Reporting by Ambar Warrick in Bengaluru)

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