Global agribusiness giant Cargill has submitted a binding offer to acquire three soyabean crushing plants and four warehouses in Brazil from privately-owned soyabean crusher Granol, World Grain wrote.

According to Cargill, the transaction involves Granol soyabean and biodiesel crushing plants in Anápolis, Porto Nacional and Cachoeira do Sul, in addition to four warehouses in the states of Goiás and Tocantins.

“The purchase intention is in line with Cargill’s growth strategy in Brazil and Latin America,” the company was quoted as saying.

Financial terms of the transaction were not disclosed, the 24 August report said.

According to a Reuters report on 21 August, Granol will keep two soyabean processing plants in Sáo Paulo that produce soyabean oil and soyabean meal.

The two plants comprised 30% of Granol’s original soyabean crushing capacity, Reuters wrote.

If the deal went through, Granol would be left with 30% of its original soyabean crushing capacity at its two plants in Sáo Paulo, the report said.

Following the acquisition, Cargill would have nine Brazilian soyabean crushing plants, according to data from the Brazilian Association of Vegetable Oil Industries (Abiove) quoted in the Reuters report.