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Mitsubishi to raise stake in U.S. grain company

TOKYO — Mitsubishi Corp on Monday said it would acquire an additional 45% stake in Ohio-based FGDI, LLC, through its wholly owned grain company, Kansas City-based Agrex Inc. Through this acquisition, Agrex will raise its stake in FGDI from 30% to 75%.




FCStone Group, an Iowa-based commodity futures risk management company, currently owns a 70% stake in FGDI, while Agrex has a 30% stake. Both companies have agreed that Agrex will acquire an additional 45% stake in FGDI from the FCStone Group (which will retain a 25% stake in FGDI). FGDI is a grain company with a solid procurement network that reaches across the United States, which is the world's largest grain producing and exporting country. FGDI is also the exclusive operator of a grain export facility in Mobile, Alabama, in the heart of the U.S. Gulf Coast, which is the largest grain exporting area in country.


(JCN)


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