June 18, 2009
Canadian, Turkish grain processors to merge
Canada's Alliance Grain Traders Income Fund plans to merge with Arbel Group, a Turkish grain processor and exporter, in a deal valued at C$104 (US$92) million.
Alliance Grain has six processing plants in Canada, the US and Australia. The company said the acquisition of Arbel will provide access to markets in North Africa, the Middle East and Western Europe.
Alliance Grain will issue a combination of cash and fund units in the transaction, resulting in Arbel shareholders owning between 31 percent and 50 percent of Alliance Grain.
The combined company would continue to be headquartered in Regina.
