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Mitsui Buys Part of SWP
REGINA - May 16/06 - SNS -- Japan's Mitsui & Co., Ltd. bought a CDN $3 million stake in the Saskatchewan Wheat Pool (SWP), paying $7.6436 per common share on a private placement basis
The subscription agreement has been approved by both companies, and is subject to customary securities regulatory approvals and closing conditions.
At the same time, the SWP entered into a multi-year supply agreement and will become one of Mitsui's primary suppliers of oilseeds into Japan.
Partnerships including potential growth opportunities in the grain and agri-food businesses will be considered as part of this alliance in future years. The Pool will use the proceeds of Mitsui's investment for general corporate purposes. The Pool will have approximately 90,250,764 million shares outstanding once the transaction closes.
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