Glencore sells off pasta maker

City A.M. Reporter
MINER and commodities trader Glencore Xstrata yesterday said it had agreed to sell Dakota Growers Pasta Company for $370m (£232m) in cash, as it continues to divest assets acquired with its $6bn purchase of Canadian grain handler Viterra last year.

To appease regulators around the world, Glencore has already sold a number of Viterra’s assets to rival companies Agrium, CF Industries and Richardson. Viterra bought Dakota in 2010 for $240m.

London-listed Glencore said the sale of Minnesota-based Dakota Growers to Post Holdings is subject to regulatory approvals and is expected to close in the first few weeks of 2014.