The Canadian authorities has accepted Bunge Ltd.’s US$8.2-billion acquisition of Viterra Ltd. in a choice that features phrases and circumstances meant to allay considerations about competitors.
The Competitors Bureau stated in a report final April to then-transport minister Pablo Rodriguez that the deal was prone to harm competitors within the grain and canola oil markets.
It additionally discovered that Bunge, the world’s largest oilseed processing firm, might affect the behaviour of G3 International Holdings, a significant competitor to Viterra.
Transport Canada says strict and legally binding controls are wanted on U.S.-based Bunge’s minority possession stake in G3 to make sure it could’t affect that firm’s pricing or funding choices.
Amongst different phrases and circumstances are a dedication to retain Viterra’s head workplace in Regina for at the least 5 years and an funding of at the least $520 million in Canada throughout the subsequent 5 years.
Viterra, previously the Saskatchewan Wheat Pool, is a grain-handling enterprise that has greater than 80 amenities throughout the nation.
Viterra was acquired by Swiss commodities large Glencore in 2012 for $6.1 billion. Glencore later offered a 40 per cent stake within the firm to the CPP Funding Board and a virtually 10 per cent stake to the B.C. Funding Administration Corp.
This report by The Canadian Press was first revealed Jan. 14, 2025.
The Canadian Press
