AGT Food and Ingredients Inc. (AGT) has sold its shortline rail and bulk handling infrastructure to a global alternative asset management firm, GCM Grosvenor.
The sale includes MobilGrain and its operating subsidiaries:
Last Mountain Rail, with 140 kms running from the Regina Plains to Central Saskatchewan, including 160 kms of running rights on CN.
Big Sky Rail, with 431 kms running from Central Saskatchewan through West Central Saskatchewan.
MobilEx Terminal Ltd., a port and loading facility for grain and potash located in Thunder Bay, Ont.
Intermobil, a privately-operated intermodal terminal located in Regina, Sask., featuring CN service to the Atlantic, Pacific and Gulf Coasts and CN’s intermodal terminals.
Bulk loading infrastructure includes Saskatchewan facilities in Condie, Aylesbury, Delisle, Dinsmore, Lucky Lake, Beechy, Elrose, Kyle, Eston and Laporte for the receiving of grains, canola and pulses from farmers in the region.
The assets included in the sale of shares to GCM Grosvenor are critical infrastructure in the Saskatchewan agricultural sector, with transportation of agri-products from the Regina Plains, West Central and Central Saskatchewan regions, an area that is one of the most important grain, canola and pulse growing regions of the world.