Photo: gdterminal.com
One of the few remaining farmer-owned grain elevators in Western Canada has struck a deal to sell its assets to Viterra, reports The Western Producer.
In a Nov. 16 news release, Gardiner Dam Terminal, based at Strongfield, SK, says it has entered into an agreement to sell a 50% interest in GDT along with its wholly owned subsidiary, GDT AgServices Ltd., to Viterra for an estimated purchase price of $27.8 to $30.2 million.
Viterra already holds a 50% interest in the company’s grain operations but would become the sole owner of all GDT assets pending shareholder approval, which will be sought at a special shareholder meeting Dec. 13.
