announcement on monday 'AWB is renegotiating the three-year...

announcement on monday 'AWB is renegotiating the three-year services agreement, which is not due to end until September 30, 2007, and will make the deal public for the first time when the renegotiated agreement is revealed on October 1.

The agreement has been in place since the government-owned Australian Wheat Board was privatised in 1999, but the deal was renegotiated in 2004 after the UN announced an inquiry into AWB's kickbacks to Iraq.

Mr Donges said the agreement was being overhauled again in the wake of AWB's decision in July to fully separate AWB Ltd and AWBI after a structural review.

The timing of the new agreement in 2004 had nothing to do with the UN inquiry, he said.

The WEA has raised serious concerns with the deal struck in 2004, notably that AWBI could be liable for exit costs "if the agreement was terminated through the actions of a third party".

Mr McGauran said he expected the renegotiated agreement to contain a "a significantly revised termination clause, one that better reflects the best interests of growers"."

Could be why alot of buyers are comming in.