By Gillian Tan
SYDNEY--Glencore International PLC (GLEN.LN) has hired Bank of
America Merrill Lynch (BAC) to sell Australia's biggest malt
producer, which it acquired through its US$6.2 billion takeover of
Canada's Viterra Inc., a person familiar with the matter said
Thursday.
The division, known as Joe White Maltings, traces its roots to
the 1850s. Its assets include seven malting plants in Australia,
which are near ports and transport links or to the nation's premium
barley-growing areas.
According to the company's website, Viterra produces more than
550,000 metric tons a year of Australian malt, making it the
largest exporter to Asian brewers including in Japan, Thailand,
Indonesia, Korea and Singapore.
Based on prior transactions, the malting business may be worth
more than 300 million Australian dollars (US$311 million).
The malt division's largest rivals in Australia are GrainCorp
Ltd. (GNC.AU), and Malteurop owned by France's Siclae.
A Glencore spokesperson declined to comment.
-Write to Gillian Tan at gillian.tan@wsj.com
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