Omaha soybean co-op sells subsidiary
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By The Associated Press
Friday, Aug 01, 2008 - 06:41:33 pm CDT
OMAHA — Ag Processing Inc. says it has sold subsidiary AGP Grain to Columbia Grain of Portland, Ore., for an undisclosed price.
The sale includes the soybean co-op’s assets in Minnesota and North Dakota. But the Omaha-based company will continue service to producers in Nebraska, Texas, Iowa and Kansas.
AGP represents more than 250,000 farmers in the United States and is a major vegetable oil refiner.
The co-op recently rejected unsolicited takeover bids from an Omaha investment bank, which said the co-op would have an easier time soliciting outside investments if it were sold and restructured as a corporation.
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