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Japan's Marubeni discusses potential sale of Gavilon unit - Bloomberg

Sept 30 (Reuters) - Japanese trading firm Marubeni Corp has discussed a possible sale of its U.S. commodities trading unit Gavilon Group LLC with at least two potential buyers, Bloomberg reported https://www.bloomberg.com/news/articles/2019-09-30/marubeni-is-said-to-sound-out-potential-buyers-for-gavilon-unit on Monday, citing people familiar with the matter.

Talks are preliminary and no decision has been made, the report said.

However, a Marubeni spokesman told Reuters it was not true that the company is considering the sale of the unit.

Gavilon had dismissed at least two senior executives this year, Reuters reported in September, the latest course correction for Marubeni, one of the several U.S. grain merchants struggling due to the trade war with China and a historic flooding in Midwestern states. (Reporting by Sanjana Shivdas in Bengaluru; Editing by Amy Caren Daniel)