Arden Hills and St. Paul, Minn.-Land O’Lakes Inc. and CHS Inc. pumped $190 million into their jointly-owned Agriliance LLC retail operation in October and November of this year. LOL reports that it and CHS each contributed $75 million and $20 million in cash to Agriliance in October and November, respectively, to support ongoing working capital requirements. In late summer it appeared that a sale of the retail operations to a management-led group was imminent, most likely occurring in September; however, word is that negotiations continue. LOL indicated that the Agriliance retail business saw a $16.7 million decrease in pretax earnings for the third quarter ending Sept. 30, 2007, versus the year-ago quarter, mainly due to impairment and restructuring charges.
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