AWB has said it remains on track to complete its deal with Gavilon to sell its AWB Geneva business and for Gavilon to acquire a stake in AWB’s Australian business, in spite of delays.
The deal was scheduled to be officially completed by the start of July; however there has been no word from either AWB or Gavilon, leading to industry speculation negotiations had stalled.
However, AWB spokesman Peter McBride said although the process had drawn out slightly over the expected timeframe, the due diligence work had been completed and he expected the deal would be officially announced by the end of the month.
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