Grainnet

Kansas City, MO—FCStone Group, Inc. (Nasdaq:FCSX), a commodity risk management firm, announced Sept. 2 it has sold its 25% minority stake in grain merchandiser FGDI, L.L.C. to its majority owner, Agrex, Inc., a grain company, for $9.5 million.

Following the sale, Agrex will own 100% of FGDI.

FGDI acts as a grain dealer in the United States and international markets, primarily Asia, Latin America and Canada.

The sale completes FCStone's exit of the grain merchandising business.

FCStone had previously sold its controlling stake in FGDI to Agrex at the end of the third fiscal quarter of 2007.

Since the 2007 transaction, FCStone did not have operational control of FGDI.

"Due to our sharpened focus on providing commodity risk management consulting services, FGDI was no longer a strategic fit with FCStone's core strategy.

"This sale aligns our business structure with the areas in which we are uniquely positioned and are pursuing opportunities for profitable growth," said Pete Anderson, President and Chief Executive Officer of FCStone.

For more information, call 866-522-7188.

See Related Websites/Articles:

• FCStone Group

more GRAIN NEWS...