Towards Financial Freedom
Wilmar International (S$3.21) Buys into firm
Wilmar International bought a stake in GrainCorp Ltd, eastern Australia's largest grain handler, at a premium of 33% its previous close, according to a person with knowledge of the matter. Two block trades of 22.8mil shares apiece worth A$536mil (S$678mil) went through at 7.05am in Sydney at A$11.75 a share. GrainCorp, which had a market value of A$2bil at Thursday's close, operates seven of the eight ports that ship grain in bulk from Australia's east coast.
Source: The Business Times
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