U.S. grains merchant Bunge is close to getting a ruling from Chinese regulators on its $8.2 billion (C$11.2 billion) purchase of Glencore-backed Viterra with a verdict expected within days, Bloomberg News reported on Wednesday.
Tag Archives Bunge
Bunge’s merger with Viterra stalled by US-China trade tensions, Bloomberg reports
Bunge Global’s $34 billion merger with Glencore-backed Viterra is being stalled by trade tensions between the U.S. and China, Bloomberg News reported on Friday, citing people familiar with the matter.
Bunge-Viterra approval ignores farmers’ concerns
Prairie farmers must be bitterly disappointed in the news earlier this month that the federal government is approving Bunge’s acquisition of Viterra, despite their strong opposition to the deal. One can’t help but wonder what more they could have done to make Ottawa recognize their concerns. Sure, the usual conditions were put on the transaction, […] Read more
Feds approval of Bunge-Viterra merger frustrates farmers
Bunge will be required to divest of six grain elevators in Western Canada and invest at least $520 million in Canada
Glacier FarmMedia – Following the approval of Bunge’s acquisition of Viterra on Jan. 14, stakeholders made their voices heard in a wave of reactions to the controversial merger. The acquisition of Regina-based Viterra by global agribusiness and food company Bunge has been in the works for some time, and the move has been met with […] Read more
Canada clears Bunge-Viterra merger
OTTAWA (Reuters) — Canada on Tuesday approved with conditions Bunge’s US$34 billion merger with Glencore-backed Viterra, clearing one of the final remaining obstacles for a global agriculture tie-up that is unprecedented in dollar value. The conditions for the approval include Bunge’s divestiture of six grain elevators in Western Canada and a binding commitment from Bunge […] Read more
Canola crush plant expands
SASKATOON — The first in a series of previously announced canola crush plants is up and running, while other projects appear to be stalled. Richardson International has more than doubled capacity at its plant in Yorkton, which can now crush 2.5 million tonnes of seed annually, up from 1.1 million tonnes. Related stories: • Overseas […] Read more
Sustainability has a problem
MINNEAPOLIS — Mars has a problem. Not the red planet, but the company. It’s one of the largest human and pet food companies in the world, posting $50 billion in revenue last year. Related stories in this issue: Global sales have been increasing, and this year the privately held company acquired the Kellogg’s line of […] Read more
Louis Dreyfus profit drops
PARIS, France (Reuters) — Louis Dreyfus Co. has posted higher first-half sales volumes and a drop in profit as the commodity group faces rising supply and lower prices of some major crops. LDC, one of the world’s largest crop traders and processors, said its core earnings were US$1.057 billion in the first six months of […] Read more
Proposed merger of grain giants betrays firm’s Prairie origins
As American grocery buyers await a Federal Trade Commission verdict on Kroger’s two-year-old, US$24.6 billion bid to buy competitor Albertsons, the European Commission took just 35 days to give its blessing to the merger between two of the world’s largest grain merchandisers, Bunge and Viterra. The mega-deal, valued at about $34 billion at the time […] Read more
Illegal Brazilian soybeans sold on global markets
Multinational companies indirectly buy crop grown on illegally leased tribal lands as issue causes division and conflict
PASSO FUNDO, Brazil (Reuters) — Farm co-operatives in Brazil that supply some of the world’s biggest multinational agricultural firms are buying soybeans grown illegally on Indigenous reservations in the country, according to tribal leaders and court records. This comes despite the companies’ public pledges to respect the land rights and resources of Indigenous peoples. The […] Read more
