Quote:
Originally Posted by bomberjet
The $250M stays with CWB as an "investment". That's where I take issue. They're paying nothing for the company, really. Gerry Ritz tip toes around this, saying it's not quite how it works. When in fact that's exactly how it works. Agreed their plans (CWB plans, not G3 or whomever) are ambitious and good for the region. Gives another option for farmers. But I also take issue with the foreign ownership. I do not like selling out our country, in this case giving it away, which is happening all the time.
The farmers will make some cash over the next 7 years on their $5 per tonne shares or whatever it is. It doesn't really say how that works either. But after 7 years, CWB has the option to purchase the remaining 49.9% of shares, which they will no doubt purchase. Giving G3 100% control. I would've preferred that farmer union based out of Saskatoon.
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I understand your point. I am not in favour of limiting foreign ownership of most businesses. It denies the owners the right to fair value and limits options for Canadian large companies to buy international assets.
Australia let Viterra buy the Australian Wheat Board.
Also FNA of Saskatoon does not have enough capital. I also believe that producer-owned agi-businesses tend to fail eventually. They are too focussed on their suppliers rather than on making money. Eventually this catches up to them.