From Grainews:
Cereal maker Post to buy Viterra's U.S. pasta firm
Glencore to get US$370M cash for Dakota GrowersHT and headline: CityAM
The maker of Shreddies, Honeycomb and Alpha-Bits cereals is set to take a major U.S. pasta processing plant off Viterra's hands.
Regina-based Viterra's owner, Swiss commodity giant Glencore Xstrata, announced Monday it will sell Dakota Growers Pasta Co. to Post Holdings for $370 million cash (all figures US$). The deal is expected to close in January 2014.
For Glencore, the deal marks another sell-off of assets from Canada's biggest grain handler, outside of its Canadian and Australian commodity grain handling business.
Viterra assets that have either been sold or committed for sale since its takeover by Glencore last year include its Canadian and Australian crop input retail businesses, Canadian and U.S. oat milling operations and Australian malting business among others....MORE