THERE'S never a dull moment in the agribusiness sector,
The Australian Financial Review says today, pointing out that as Graincorp was completing its $880 million book-build, one of Elders's major investors quit its board and rumblings about Gunns's controversial pulp mill increased.
Credit Suisse yesterday sold the 20 odd million Graincorp shares leftover from the October GrainCorp share offer to eligible shareholders, at about $6.50 - a 4 per cent discount to Wednesday's closing price of $6.78 a share.
This compares with the 57.6 million shares taken up at $5.65 under the entitlement offer and the institutional placement of 15.7 million shares at $7.05 a share.
And on Elders, the AFR says it's worth noting that Indonesian tycoon, Anthoni Salim has resigned as a director of Elders after six years on the board. Salim was due for board renewal at the annual meeting on December 18, but resigned early because of other work commitments.
In other ag news, Gunns chairman John Gay is understood to have met with overseas visitors last Friday regarding the proposed pulp mill in the Tamar Valley. Gunns has always remained reasonably confident about signing a joint-venture partner, said to be Swedish giant Sodra.
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