Bunge Ltd., St. Louis, Mo., on July 9 announced that is has completed the previously announced sale of 35 U.S. interior elevators to Zen-Noh Grain Corp., Covington, La., a unit of Japanese cooperative Zen-Noh (GM April 24, 2020).
In order to gain U.S. Department of Justice approval, Zen-Noh was required to divest nine elevators located in five states along the Mississippi River and its tributaries – Arkansas, Iowa, Illinois, Louisiana, and Missouri. Zen-Noh agreed to sell 11 elevators to Viserion Grain LLC, Boulder, Colo., a new entrant backed by Pinnacle Asset Management, New York City, or an alternative buyer approved by the U.S. (GM June 4, p. 29).