Sask. agricultural giant AGT Food looks to take company private

Senior managers at AGT Food and Ingredients Inc. and some of the company's large investors are proposing to take it private.

A group led by AGT chief executive Murad Al-Katib proposed on Thursday that it would pay $18 cash for each of the company's common shares, a 37 per cent premium to the July 25 closing price.

The proposal contemplates that Fairfax Financial Holdings Ltd. and Point North Capital Inc. would retain their equity interests in AGT and AGT's senior management team would remain in place.

Entrepreneur of the year

7 years ago

Duration 5:49

Murad Al-Katib, CEO of AGT Food and Ingredients, on being celebrated as a global business leader

AGT Food is a food processor supplying export and domestic markets. It produces a range of pulses and specialty crops including lentils, peas, chickpeas and canary seed as well as food ingredients such as flour and starch.

The company and Fairfax are also part of a group that's working to restore a rail link to the Port of Churchill, Man.