The Canadian government has conditionally approved the $8.2 billion acquisition of Viterra by US agri-business Bunge. The approval comes after concerns about competition in the sector, with conditions including the divestiture of grain elevators and investment in Canada.
The Canadian government conditionally approved the acquisition of Viterra, an agricultural subsidiary of Glencore, by US agri-business Bunge Global after concerns about competition in the sector were raised over the deal last year.The $8.2 billion deal would give Glencore $1 billion and 32.8 million shares in Bunge , a note from analysts Berenberg said. Combined, the companies would be worth around $34 billion.
The terms and conditions of the government's approval include the divestiture of six grain elevators in Western Canada and the investment of at least C$520 million in Canada over the next five years, Canada's transport ministry said.
MERGERS AND ACQUISITIONS AGRICULTURE COMPETITION CANADA ECONOMY
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