September 19, 2007

Cargill to buy Hungary's Agrograin

Hungary's competition authority (GVH) on September 18 approved Cargill's purchase of a 64.43 percent stake in leading Hungarian trading firm Agrograin.

After obtaining a minority stake in Agrograin in 1995, Cargill's stake raised to 100 percent in one of Hungary's largest grain trading houses with revenue of US$232 million last year.

Agrograin supplies Cargill with wheat, corn and sunflower seed using its 400,000 tonnes of grain storage, its ports on the Danube and a rented fleet of barges and sea vessels.