Afgri: Silo deal boosts grain capacity

Afgri Operations would acquire the grain management business of MGK Operating Company as part of a strategy to grow its grain storage capacity, listed parent Afgri said yesterday. Afgri said the deal would boost its grain storage capacity by 165 000 tons to 4.471 million tons. The deal, which is subject to the approval of competition authorities, involves the sale of the MGK business for R12 million, and the lease of four silo complexes for nearly a decade. Afgri rose 0.94 percent to close at R4.31 yesterday. – Dineo Faku