GrainCorp Limited (ASX:GNC) entered into a binding share sale agreement to acquire Xf Australia Pty Ltd for AUD 35 million on November 14, 2023. GrainCorp will fund the purchase price payable on completion of the transaction from its existing cash reserves. XFA generated AUD 7.6 million of EBITDA for the 12 months to June 30, 2023. Completion of the transaction is subject to the satisfaction of certain conditions precedent, including the entry into new commercial and lease agreements with certain of XFA?s contractual and commercial counterparties, and the Australian Competition and Consumer Commission not notifying GrainCorp that it intends to intervene in respect of the transaction before completion. As of March 21, 2024, ACCC announced its decision not to oppose the proposed acquisition. Subject to the satisfaction of the conditions precedent, completion of the transaction is currently expected to occur on or before January 31, 2024. GrainCorp currently expects completion of the proposed acquisition to occur in early April 2024.

GrainCorp Limited (ASX:GNC) completed the acquisition of Xf Australia Pty Ltd on April 2, 2024.