United Grain Growers of Canada and Louis Dreyfus Canada are to exchange grain elevators, according to statements released by the two companies.
United Grain said it would take control of Louis Dreyfus' elevator in Regina, Saskatchewan, while Louis Dreyfus will take over United Grain's elevators in Rycroft and Falher in Alberta.
The sale of the two Alberta-based elevators was one of the requirements set out by the Canadian Competition Bureau in order for United Grain to win approval for its merger with Agricore Co-operative.
The transaction is subject to conditions and is expected to close by 31 July. The financial terms were not disclosed.