The companies said Tuesday the deal create a global agribusiness company well positioned to meet the demands of complex markets and better serve farmers and customers.
"Our highly complementary asset footprints will create a network that connects the world's largest production regions to areas of fastest growing consumption, enhancing the geographical balance and adaptability of our global value chains and benefiting farmers and end-customers." Viterra shareholders will own 30 per cent of the combined company on a fully diluted basis when the deal closes and about 33 per cent after completion of a planned US$2-billion share repurchase plan by Bunge.
The combined company will be led by Heckman and Bunge chief financial officer John Neppl, while Viterra chief executive David Mattiske will become co-chief operating officer.