Friday, 12 February 2016
Last updated 43 min ago
Jun 24 2008 | 2:00am ET
An Ospraie Management hedge fund has bought ConAgra Foods’ commodity-trading unit.
The firm’s Special Opportunities Fund will pay about $2.8 billion for the ConAgra Trade Group, which manages grain elevators, rail cars and barges. The price—$2.2 billion in cash and $550 million in debt securities—is 29% higher than the price agreed to in March, due to an increase in the unit’s book value.
The Trade Group is to be renamed Gavilon after the sale is completed.