General
Canada Clears $34 Billion Bunge-Viterra Merger with Conditions
Bandar Seri Begawan: Canada on Tuesday approved with conditions U.S. grains merchant Bunge’s $34 billion merger with Glencore-backed Viterra, clearing one of the final remaining obstacles for a global agriculture tie-up that is unprecedented in dollar value.
According to Radio Television Brunei, the conditions for the approval include Bunge’s divestiture of six grain elevators in Western Canada and a binding commitment from Bunge to invest at least C$520 million ($362 million) in Canada within the next five years. This approval marks a significant step in the consolidation of major players in the global agriculture sector, setting the stage for enhanced market dynamics and potentially affecting grain supply chains worldwide.