image credit: AlfvanBeem / Wikimedia

Pan Ocean takes stake in US export grain terminal

September 15, 2020


Pan Ocean bought the 36.25 per cent stake from Japanese trading company Itochu, Yonhap News Agency reported.

No financial details have been disclosed.

With this move, Pan Ocean has become EGT’s second-largest shareholder.

Although EGT has been listed a joint venture between Bunge North America, the North American operating arm of Bunge Limited and Itochu International, a US subsidiary of Itochu Corp., it had been built by three companies. Back in 2009, Itochu Corporation agreed with Bunge North America and STX Pan Ocean (America) to invest more than $200 million in building the new export grain terminal.

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