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Bunge and Viterra sign merger agreement to create global agribusiness

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A US$8.2\u002Dbillion merger between U.S. company Bunge Ltd. and Viterra Ltd. will create a massive global agricultural giant in an industry that has already seen a…

Viterra, formerly the iconic Saskatchewan Wheat Pool, is a grain-handling business that has more than 80 facilities across the country and exports into more than 70 countries.

“The combination of Bunge and Viterra significantly accelerates Bunge’s strategy, building on our fundamental purpose to connect farmers to consumers to deliver essential food, feed and fuel to the world,” said Greg Heckman, Bunge CEO, in a news release.Advertisement 4“This further enables us to offer innovative solutions and open additional pathways for our customers,” said Viterra CEO David Mattiske.

Viterra itself was acquired by Glencore in 2012 for $6.1 billion. Glencore later sold a 40 per cent stake in the company to CPP Investments and a nearly 10 per cent stake to B.C. Investment Management in 2016.Article content The merger is expected to close in the middle of 2024, subject to customary closing conditions, including regulatory approvals and approval by Bunge shareholders.

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