
Canada gave in the minute Tuesday the approval for the Merger of Viterra and Bunge – informs agency Reuters. Canadian authorities have however Bunge some conditions.
A statement by the Canadian ministry of transportation shows, that Bunge for approval of the merger must sell six grain elevators in western Canada. In addition to this it has committed Bunge to invest in Canada at least 520 million Canadian dollars (i.e. the equivalent 362 million US dollars), in the next 5 years.
Another condition placed for companies, is to tight control over the minority shares of Bunge in Saudi beans G3. Canada wants to have confidence, that Bunge will not influence decisions G3 on pricing or investment – the ministry reported. Bunge, Viterra and G3 are together accounting for one third of electric capacity in western Canada.
With Canada’s agreement we are approaching the completion of the regulatory process and expect to finish it in early 2025 year. – commented Bunge.
Minister of Transport Canada has also assured farmers, that the government will monitor the situation in the domestic market. There will also be a program to protect prices for some customers of pak oil in Canada Central and Atlantic, to ensure fair prices and stability of market.
-.This
decision underlines the importance of supporting economic growth in Canada with solid surveillance for the purpose of
protecting competition and public interest – stated in statement Minister of transport Anita Anand.
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Ukraine agrees to merger companies Viterra and Bunge
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no agreement Canada and China .