Tokyo-Mitsui & Co. Ltd. has issued a statement saying that it has agreed to acquire CHS Inc.’s 44.2 percent stake in Multigrain AG. Multigrain engages in the agricultural production business and the grain distribution business in Brazil. With this acquisition, Mitsui’s own shareholdings in Multigrain will increase from 44.2 percent to 88.4 percent. Mitsui said its additional investment will be US$225 million, with its total investment in Multigrain now being $459 million. CHS, while indicating a few weeks ago that it was considering a sale of its Multigrain stake (GM, Jan. 17, p. 15), has yet to confirm the sale.
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