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BOULDER, Colo., April 1, 2021 /PRNewswire/ Viserion Grain, LLC ( Viserion ), a newly formed subsidiary of Viserion International Holdco, LLC backed by Pinnacle Asset Management, L.P. ( Pinnacle ), today announced that it has entered into a definitive agreement to acquire 11 grain elevator facilities from Zen-Noh Grain Corporation ( ZGC ). ZGC is divesting the facilities in conjunction with its proposed acquisition of multiple grain elevators from Bunge.
Located across five states along the Mississippi and Ohio Rivers, the grain elevators have a total storage capacity of approximately 25MBu and are well-positioned to provide competitive services for farmers and grain dealers. The facilities being acquired by Viserion are located in Huffman, Arkansas; Osceola, Arkansas (Riverside and Landside); Helena, Arkansas; McGregor, Iowa; Savanna, Illinois; Shawneetown, Illinois; Lake Providence, Louisiana; Lettsworth, Louisiana; Caruthersville, Missour
Press release content from Newswire. The AP news staff was not involved in its creation.
Zen-Noh Grain Corporation and Viserion Grain, LLC Announce Sale and Purchase Agreement of 11 Grain Facilities
April 1, 2021 GMT
COVINGTON, La. - April 1, 2021 - ( Newswire.com )
Zen-Noh Grain Corporation (ZGC) announced today that it has entered into an agreement with Viserion Grain, LLC (Viserion) 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.