The Overseas Investment Office has cleared a German agricultural company to take a large stake in Turners & Growers.
BayWa last year launched a $216 million takeover offer for Turners & Growers and so far has acceptances giving it 72% of the firm.
Overseas Investment Office approval is the final hurdle for the deal which has gone unconditional and closes on Wednesday night.
The German Federal Cartel Office has already approved the deal.
BayWa's chief executive, Klaus Lutz, will take over as chair of Turners & Growers' board.
Additional members of the board will be Andreas Helber, BayWa's chief financial officer, Dr Josef Krapf, BayWa's board member responsible for the agriculture and fruit business units, and Dietmar Bahler, head of the fruit business unit.
