Government of Canada approves Bunge Global SA’s acquisition of Viterra Limited
Ottawa, Ontario – The Government of Canada today announced that it has approved the proposed acquisition of Viterra Limited by Bunge Global SA. The transaction was reviewed under the Investment Canada Act and is subject to certain conditions.
About the transaction
Bunge Global SA is a leading global agribusiness and food company with operations in over 40 countries. Viterra Limited is a Canadian grain company with operations in Canada, Australia, and the United States. The acquisition of Viterra will give Bunge a strong presence in the Canadian grain market and will create a leading global grain company.
Benefits of the transaction
The Government of Canada has determined that the transaction is likely to benefit Canada by:
- Increasing competition in the Canadian grain market: The acquisition will create a more competitive grain market in Canada, which will benefit farmers and consumers.
- Enhancing investment in the Canadian grain sector: Bunge has committed to invest in the Canadian grain sector, including in research and development, and to maintain Viterra’s headquarters in Regina, Saskatchewan.
- Creating jobs: The acquisition is expected to create new jobs in the Canadian grain sector.
Conditions of approval
The Government of Canada has imposed certain conditions on the transaction to ensure that it is in the best interests of Canada. These conditions include:
- Protecting Canadian jobs: Bunge must maintain Viterra’s headquarters in Regina, Saskatchewan, and must not reduce Viterra’s workforce in Canada for a period of three years.
- Investing in the Canadian grain sector: Bunge must invest in the Canadian grain sector, including in research and development.
- Maintaining competition in the Canadian grain market: Bunge must not engage in anti-competitive behavior in the Canadian grain market.
Conclusion
The Government of Canada has determined that the proposed acquisition of Viterra Limited by Bunge Global SA is likely to benefit Canada. The transaction has been approved subject to certain conditions.
Government of Canada announces approval of Bunge Global SA’s acquisition of Viterra Limited
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