West Central Road and Rail Ltd. and its subsidiary Goals Marketing plan to sell their assets for about $22 million to Alliance Pulse Processors Ltd., a subsidiary of AGT Food and Ingredients Inc.
The agreement covers WCRR’s producer car loading facilities in Eston, Laporte, Lucky Lake, Beechy and Dinsmore, all in east central Saskatchewan.
It also includes most other assets related to storing, receiving loading and merchandising of grains, pulses, oilseeds and special crops.
Alliance plans to continue using the loading and storage facilities.
Goals Marketing’s existing sales contracts are excluded from the deal.
The sale price is estimated at $22 million, subject to adjustments. It is expected that each shareholder of WCCR shares would receive $310 to $340 per share, depending on the class of share and the other details yet to be finalized.
The deal is subject to shareholder approval. A shareholder meeting is planned for late May.
See the attached press release from West Central for more details:
Pulse company to buy producer car loading assets
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