Deals
Bunge’s $8.2 Billion Viterra Deal Wins Conditional EU Nod
- Firms filed substantial remedies that eased EU concerns
- Would create world’s 2nd biggest agri-trading firm by revenue
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Bunge Global SA’s planned $8.2 billion buyout of Viterra Inc. won European Union approval after concessions offered by the firms allayed competition concerns.
The tie-up, announced in June last year, will see Bunge buy Glencore Plc-backed Viterra in stock and cash, with the US crop trader owning about 70% of the combined entity. It would become the world’s second-biggest agricultural trading company by revenue, dominating the soybean and wheat markets.