date:Feb 08, 2014
Japanese conglomerate Sumitomo has completed the takeover of Emerald Agribusiness (EAG) following the purchase of 50% of Emerald Grain from the directors.
In 2010, Sumitomo bought a 50% stake in EAG.
The latest deal provides Emerald Grain with access to significant capital to fund expansion in grain accumulation capability and processing assets.
EAG and Emerald Grain chairman Alan Winney said that sale of the remaining share to Sumitomo is was the next logical step to allow the ongoing growth