UPDATE: JAPANESE trading group Sumitomo has exercised its right to buy Viterra Inc's half share of Australian Bulk Alliance.
ABA owns eight grain receival sites in Victoria and NSW and a half share in the assets of the Melbourne port terminal with AWB Limited.
It is also the sole operator of the Melbourne port terminal.
The Sumitomo purchase of ABA was triggered by Viterra's takeover of ABB Grain Ltd last September.
Under a shareholder agreement with ABB Grain, Sumitomo had the right to buy the other half share of ABA if ownership of ABB Grain changed.
ABA was originally set up in 1999 as joint venture between ABB Grain and Queensland grain business Grainco Limited.
Grainco was eventually taken over by GrainCorp when it got into financial difficulties.
As part of the Grainco takeover, the Australian Competition and Consumer Commission required GrainCorp to sell its share in ABA.
Sumitomo bought GrainCorp's share in ABA in 2004 through its subsidiary Summit Grain Investment (Australia) Pty Ltd.
Sumitomo paid $8.6 million for Viterra's 50 per cent stake in ABA, with the sale taking effect from April 21.
