ELDERS and AWB have hung a For Sale sign on their jointly owned fertiliser business, Hi-Fert, potentially paving the way for it to be snapped up by offshore agricultural players.
Elders had previously said it would sell its 50 per cent stake in the joint-venture asset but The Australian Financial Review understands the entire business, including the half-share owned by AWB, is also on the block.
KPMG has been conducting a review of the Elders business and it's thought the consulting group has been appointed by both companies to run the sale of Hi-Fert.
Industry insiders at last week's International Fertilizer Association conference in Shanghai noted the asset would likely attract an overseas player looking for access to an Australian distribution network.
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