Glencore’s purchase of Viterra cleared one regulatory hurdle Monday but there remain several steps to complete before it is a done deal.
Canada’s Competition Bureau today approved the $6.1 billion grain company deal, but that relates only to the Viterra transaction.
The bureau is also reviewing the subsequent transactions where Glencore will sell hundreds of farm service centres to Agrium and 19 elevators and other assets to Richardson International.
“The reviews of the subsequent proposed transactions involving Agrium and Richardson (International) will be conducted independently,” said the bureau in an e-mail response to The Western Producer.
The deal also faces a Viterra shareholder vote set for May 29.
Additional steps required include reviews under the Investment Canada Act and Foreign Acquisitions and Takeover Act. It also needs approvals by regulators in other countries where Viterra operates.
Read more about this story in the May 10 Western Producer.
