GrainCorp, JV Partner Agree to Sell GrainsConnect Canada; Shares Down 12%

MT Newswires Live

Dec 17

GrainCorp (ASX:GNC) and its joint venture partner Zen-Noh Grain agreed to sell GrainsConnect Canada to Parrish & Heimbecker for CA$150 million, according to a Wednesday filing with the Australian bourse.

The consideration for the transaction involves an additional cash payment for net working capital at closing, the filing said.

While the company is expected to recognize a loss on the sale of between AU$5 million and AU$10 million, the transaction does not affect its through-the-cycle earnings before interest, taxes, depreciation, and amortization of AU$320 million.

The transaction is anticipated to be completed in the first half of 2026, per the filing.

GrainCorp shares fell 12% in midday trade on Wednesday.

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