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The Asian branch of global crop merchant Louis Dreyfus Company (LDC) said on Monday it had entered into an agreement with Longriver Farms for the acquisition of Australian grain handler Emerald Grain.

The agreement is subject to regulatory approvals and customary closing conditions.

Emerald Grain is a leading grain handling business in Australia, with a network of seven grain storage and receival sites across the states of New South Wales and Victoria, with a combined storage capacity of approximately one million tonnes, and a grain export terminal at the Port of Melbourne, LDC said in a statement.