Bunge and Viterra agree mega-merger to form global agribusiness powerhouse

By: Trademagazin editor Date: 2023. 06. 20. 09:21

Bunge has entered into a definitive agreement with Viterra, together with certain affiliates of Glencore PLC, Canada Pension Plan Investment Board and British Columbia Investment Management Corporation, to merge with Viterra in a stock and cash transaction. The combined company would be valued at a reported US$34 billion including debt, while the proposed merger is expected to attract close regulatory scrutiny.

The merger of Bunge and Viterra will create a “global agribusiness powerhouse,” which is poised to meet the demands of increasingly complex markets and better serve farmers and end customers.

The deal would form a mega agriculture trader slated to accelerate investments in sustainable solutions to this century’s most pressing food challenges. The merger is expected to close in mid-2024, subject to satisfaction of customary closing conditions, including receipt of regulatory approvals and approval by Bunge shareholders.

“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,”

says Bunge CEO Greg Heckman.

“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.”

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