Japan-based conglomerate Marubeni Corp has bought agricultural and energy resources company Gavilon Group, which is backed by Egypt-based industrial conglomerate Orascom Construction Industries, for $3.6bn plus $2bn in debt.
Gavilon shareholders include Egypt-based industrial conglomerate Orascom Construction Industries, which said it owns 16.8%, and private equity firms General Atlantic, Ospraie Advisors and Soros Fund Management. Agriculture company ConAgra Foods also received a warrant exercisable for about 5% of Gavilon after selling the business in a $2.8bn leveraged buyout in 2008.