GrainCorp wants to sell its terminals business (which stores and handles vegetable oils and similar products) to ANZ Terminals, a competitor for $350 million, including debt. In a statement yesterday the ACCC revealed it had raised preliminary concerns about the deal.
The company has reported its worst-ever annual result, UBS notes, heavily affected by drought and onerous rail take-or-pay contracts. A large grain trading loss of -$65m was incurred. Meanwhile, there was another record performance in the malt business.