Glencore is uniting all of its agriculture operations around the world under the name of its Canadian-based grain business. Glencore Agriculture will be known as Viterra as of later this year, says CEO David Mattiske. “Viterra is a globally recognized brand within the business. It also has a deep connection to agriculture, with Viterra meaning… Read More
Tag: Glencore
Global commodity giant Glencore — the majority owner of Regina-based grain company Viterra — is looking to expand its agriculture business, and has approached Bunge about a possible takeover. In a statement on Tuesday, Glencore confirmed it has “made an informal approach to Bunge Limited regarding a possible consensual business combination.” Glencore notes “discussions may… Read More
Glencore has announced a deal to sell an additional 9.99 percent stake in its agriculture business, which include Regina-based grain company Viterra, to the British Columbia Investment Management Corporation (BCIMC). The transaction is worth US$624.9 million and comes on the heels of Glencore’s agreement to sell a 40 percent stake in its ag business to… Read More
The Canada Pension Plan Investment Board was the winning bidder as Switzerland-based commodities giant Glencore sought to sell a chunk of its agricultural assets, including grain company Viterra. The CPPIB and Glencore announced last week they have reached a deal that will see the CPPIB pay $2.5 billion for a 40 percent stake in Glencore’s ag… Read More
The Canadian Pension Plan Investment Board has reached a deal to buy 40 percent of Glencore’s agricultural business, which includes Viterra, for US$2.5 billion. “We are pleased to be partnering with CPPIB as we embark on the next stage of the development of Glencore Agri,” said Glencore CEO Ivan Glasenberg in a statement early Wednesday… Read More
Winnipeg-based special crops marketing company Legumex Walker has cleared its final hurdle in winding down operations, announcing on Tuesday it has handed over its 84 percent stake in Pacific Coast Canola and PCC’s troubled crush plant in Washington. The divestiture arrangement sees Glencore increase its ownership stake in PCC from 16 percent to 50 percent for no… Read More
If the NOTORIOUS B.I.G was a market analyst he would describe the current situation in Western Canada as, “Mo crop, mo problems” (was that a reach???). The 2014 Western Canadian crop is very large, on farm storage is full, railways are jammed and ports are shipping as much as they can. Get More: If you… Read More
Glencore International and Viterra Inc. have announced the sale of Viterra to Glencore has been completed. The acquisition brings Glencore immediate critical mass in the key grain markets of North America through Viterra’s substantial Canadian operations, the company says in a release. Viterra also materially expands Glencore’s existing operations in Australia. Fran Malecha, formerly Chief… Read More
In the story that seemed like it would never end. China has finally approved the Glencore purchase of Viterra. Many people in the industry were starting to question whether the deal would actually ever happen due to the constant delays and extensions of the deadline. See the press release. According to the press release: This was the… Read More
Viterra Inc. announced today that Glencore International PLC’s purchase of the company is on hold until at least December 10th. The deal is hung up on regulatory approval from the Ministry of Commerce of the People’s Republic of China. Industry Canada has approved the $6.1 billion deal that will see Winnipeg-based Richardson International buy up… Read More
I always find it interesting to read or hear the mainstream media cover big ag stories. We have been able to see this with the coverage of the CWB single desk dissolving early this year and now the Glencore – Viterra deal. In the below episode of the Lang and O’Leary Exchange, three segments are… Read More
John Depape, The CWB Monitor, talks to RealAgriculture.com about the potential sale of Viterra to a foreign company like Glencore. John gives his feelings on whether Viterra is a national strategic asset, whether the competition bureau has anything to say about this size of deal, and if this potential deal with Glencore makes any sense… Read More