Japan's Marubeni to sell Gavilon grain business to Glencore arm for $1.1 billion

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Japan's Marubeni to sell Gavilon grain business to Glencore arm for $1.1 billion

By Yuka Obayashi TOKYO -Japanese trading house Marubeni Corp will sell the grains business of its U.S. unit Gavilon to commodities trader Glencore PLC's Viterra arm for $1.125 billion, plus working capital, Viterra said on Wednesday. Marubeni said it expected to gain a total of 300 billion to 400 billion yen ($2.6 billion to $3.5 billion), including loans to grains merchant Gavilon,