GrainCorp (ASX:GNC) completed the divestment of its GrainsConnect Canada joint venture (JV) to Parrish & Heimbecker, following a joint strategic review with Zen-Noh Grain that determined a sale was the most value-accretive option, according to a Monday filing with the Australian bourse.
The company recognized a AU$16 million loss on the sale, which remains subject to immaterial post-completion adjustments, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.