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11/21/2024
AGT Food and Ingredients Inc. of Regina, Saskatchewan, has sold all shares of its short-line rail and bulk handling infrastructure to GCM Grosvenor, a Chicago-based global alternative asset management firm.
Financial terms and details of the sale and subsequent agreement have not been disclosed. Northborne Partners acted as the sole lead adviser to AGT on the transaction, according to an AGT press release.
The sale includes Mobil Grain Ltd. and its operating subsidiaries: Last Mountain Rail, a short line with 87 miles running from the Regina Plains to central Saskatchewan, and including 100 miles of running rights on CN; Big Sky Rail, a short line with 258 miles running from central Saskatchewan through west central Saskatchewan; MobilEx Terminal Ltd., a port and loading facility for grain and potash located in Thunder Bay, Ontario; and Intermobil, an intermodal terminal in Regina that includes CN service to the Atlantic, Pacific and Gulf coasts and the Class I'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.