Cargill, one of the world’s largest commodity traders, has agreed to sell its petroleum business to Australia’s Macquarie, the infrastructure and natural resources focused investment bank.
The sale of the Geneva-based petroleum business comes as Cargill, which is primarily focused on agricultural commodities, looks to streamline its business during a tough period for the sector.
For Macquarie, the deal will give its commodity business its first office in the trading hub of Geneva, where the majority of the 140-strong Cargill Petroleum team is based.
The transaction is expected to close later this year, Cargill said
source http://www.omnipopmag.com/2017/03/16/macquarie-buys-cargills-petroleum-business/
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