Zen-Noh Grain Corp. (ZGC) has entered into an agreement with Viserion Grain, LLC for Viserion to acquire 11 grain facilities.
These facilities are expected to be required by the U.S. Department of Justice to be divested in connection with its review of ZGC's acquisition of multiple grain facilities from Bunge, a transaction announced spring of 2020.
Both transactions remain subject to clearance from the U.S. Department of Justice, and the sale to Viserion is conditioned on the closing of the Bunge acquisition. Both transactions are expected to close late spring.
The initial agreement between ZGC and Bunge included 35 operating assets.
To help secure regulatory approval, eight Bunge assets (Shawneetown, IL; Huffman, AR; Osceola, AR (Riverside and Landside); Helena, AR; Lake Providence, LA; McGregor, IA; Lettsworth, LA) and three of ZGC’s affiliate, Consolidated Grain and Barge Co. (CGB), assets (Caruthersville, MO; Cottonwood Point, MO; Savanna, IL) have been selected for divestiture and are pending sale to Viserion.
About Zen-Noh Grain Corp.
Zen-Noh Grain Corp. is the US Subsidiary of the National Federation of Agricultural Cooperative Associations of Japan, Zen-Noh. ZGC trades and exports corn, soybeans, sorghum, wheat, and byproducts from its state-of-the-art export elevator located at mile 164 on the Mississippi River in Convent, LA to Japan and other global markets.
About Viserion Grain, LLC
Viserion Grain, LLC (Viserion) is a new entity supported by management with strong experience in the grain industry. It is owned by Viserion International Holdco, LLC, a Colorado-based global agricultural merchant formed with the financial backing of Pinnacle Asset Management, L.P. (Pinnacle).
