
Reuters' Ismail Shakil reported that Canada's transport ministry has conditionally approved the $34 billion merger between Bunge and Viterra, paving the way for a new global agriculture giant. The approval, announced on Tuesday, includes key conditions to address competition concerns in the Canadian market:
- Bunge must divest six grain elevators in Western Canada.
- Invest at least C$520 million in Canada over five years.
- Implement controls on Bunge's minority stake in G3.
- Establish a price protection program for certain canola oil purchasers.
Transport Minister Anita Anand emphasized the importance of promoting economic growth while maintaining competition. The merger, expected to close in early 2025, will create a company comparable to industry leaders ADM and Cargill.8