Marubeni Corp., one of the world’s biggest general trading companies, has sounded out at least two potential buyers for its U.S. grains unit Gavilon Group LLC, according to people familiar with the matter.
Bloomberg reports the Tokyo-based company has discussed a possible sale with at least two other trading firms, said the people, who asked not to be identified as the information is private. Talks are preliminary and no decision has been made, the people said.
According to a report at Reuters, Gavilon has dismissed at least two senior executives this year, the latest course correction for Marubeni, one of the several U.S. grain merchants struggling due to the trade war with China and a historic flooding in Midwestern states.
