Potential Viterra merger with U.S. rival threatens Prairie head office jobs

is in talks to unite Viterra, its agricultural division, with Bunge to create a global business worth approximately US$25-billion. Bunge chief executive Gregory Heckman, based in St. Louis, is expected to run the combined companies.

Viterra’s Canadian head office is in Regina and the company operates more than 80 facilities in Canada, including six grain-shipping terminals in the ports of Vancouver, Prince Rupert, Thunder Bay and Montreal. Viterra has two oilseed processing plants, in Manitoba and Quebec. Bunge, which focuses on processing oilseeds such as canola, soy and sunflowers, has 12 facilities in Alberta, Saskatchewan, Manitoba and Ontario.

In talks that took place in 2017, Glencore was offering to buy Bunge. Now the tables have turned, with Bunge shareholders expected to control the combined companies, and Glencore becoming a minority partner. Last year, Bunge earned a US$1.6-billion profit, while Viterra’s net income in 2022 was close to US$1-billion.

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Viterra merger with Bunge would create $25-billion rival to biggest agricultural playersA merger between Viterra Inc. and Bunge Ltd. would create one of world\u0027s largest agricultural palyers capable of rivalling Cargill. Read on.
Fonte: financialpost - 🏆 7. / 85 Leggi di più »