AGRIBUSINESS AWB Ltd says the sale of its AWB Geneva business to US-based Gavilon LLC will take longer than originally expected.
AWB and Gavilon LLC announced on March 30 the execution of a non-binding memorandum of understanding regarding the sale of AWB Geneva and the formation of a 50:50 joint venture of AWB's Australian commodity management business.
AWB said in a statement today that the transaction had originally been expected to be completed by June 2010.
Both companies were working towards finalising the transaction as soon as possible, but AWB now expected binding contracts to be agreed next month.
