Canada approves Bunge-Viterra merger

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Canadian Grain Commission

calgaryherald

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'Major power imbalance': Farm groups, farmers raise concerns about Bunge's acquisition of Viterra

Summary

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63% Informative

Federal government approved Bunge Ltd.’s US$8.2-billion acquisition of Viterra Ltd. The federal government said its approval includes terms and conditions designed to protect competition.

A University of Saskatchewan report found that the merger could lead to losses of $770 million per year for producers.

Alberta Grains , which represents Alberta 's wheat and barley farmers, was one of four farm groups that commissioned the study.

Viterra was acquired by Swiss commodities giant Glencore in 2012 for $6.1 billion . Glencore later sold a 40 per cent stake in the company to the CPP Investment Board and a nearly 10 per cent stake to the B.C. Investment Management Corp. — With files from The Canadian Press .

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English

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