The Department of Justice announced that it will require Zen-Noh Grain Corp. (ZGC) to divest nine grain elevators in nine geographic areas located in five states along the Mississippi River and its tributaries in order to proceed with its proposed $300 million acquisition of 35 operating and 13 idled grain elevators from Bunge North America Inc.
The United States of America claimed in a complaint on Tuesday that allowing Zen-Noh Grain Corp. (ZGC) to purchase elevators from Bunge North America Inc.
The U.S. Department of Justice said Tuesday Zen-Noh Grain Corp. could proceed with a planned $300 million deal to purchase more than three-dozen grain elevators located along the Mississippi River from Bunge Ltd. after agreeing to sell several elevators in overlap areas.
WASHINGTON, June 1 (Reuters) - The U.S. Department of Justice on Tuesday said Zen-Noh Grain Corp must divest nine grain elevators in five U.S. states to move forward with its proposed $300 million acquisition of other grain elevators from Bunge North America Inc, a unit of Bunge Ltd.Zen-Noh must sell the elevators to Viserion Grain LLC, which is owned by Viserion International