A US$8.2-billion merger between Bunge Ltd. and Viterra Ltd. is set to create a global agricultural giant. The combination of both the companies’ highly complementary asset footprints and distribution network will connect the world’s largest production regions to areas of fastest-growing demand. Missouri-based Bunge is the world’s largest oilseeds processing company, operating 300 facilities in more than 40 countries worldwide, while Viterra is owned by Swiss commodities giant Glencore, as well as the Canada Pension Plan Investment Board and B.C. Investment Management Corp and operates a network of agricultural storage, processing and transport assets across 37 countries.
Under the terms of the agreement, Viterra’s shareholders will receive 65.6 million Bunge shares, valued at a total of about US$6.2 billion, and about US$2.0 billion in cash. Bunge will also assume US$9.8 billion of Viterra debt. The federal Competition Bureau confirmed it will be reviewing the proposed Viterra-Bunge merger in accordance with the Competition Act and the merger is expected to be finalized in mid-2024.