Hockey nears GrainCorp call

Treasurer said to be leaning toward sale, despite concerns from the Nationals.

Treasurer Joe Hockey is set to approve the sale of GrainCorp (GNC), but will attach conditions to the deal designed to placate concerns from the Nationals, The Australian Financial Review reports.

According to the newspaper, key Liberal party members are in favour of the sale, but some in the Nationals have said they oppose the transaction even with conditions.

Mr Hockey previously set himself a December 17 deadline to rule on the proposed sale of GrainCorp to American firm Archer Daniels Midland (ADM).

The AFR reports some Liberals fear the adding of conditions to the deal could lead ADM to walk away from the $3.4 billion transaction.

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