E-Malt.com News article: Canada: Glencore’s acquisition of Viterra approved by the Ontario Superior Court of Justice

Viterra Inc. announced on May 31 that court approval has been granted for Glencore International plc’s acquisition of Viterra for C$16.25 per share, in cash.

The Ontario Superior Court of Justice issued a final order approving the Arrangement under the Canada Business Corporations Act.

Viterra shareholders previously voted to approve the acquisition at Viterra's special meeting of shareholders held on May 29.

Viterra expects the transaction to close by the end of July, although this date is not certain and may change. The closing of the transaction is subject to the satisfaction or waiver of all conditions that are applicable to the Arrangement, including the granting of approvals or clearances under the Investment Canada Act.

Headquartered in Canada, the global Viterra agri-business has operations across Canada, the United States, Australia, New Zealand and China, as well as a growing international presence that extends to offices in Japan, Singapore, Vietnam, Switzerland, Italy, Ukraine, Germany, Spain and India. Viterra operates three distinct business segments: Grain Handling and Marketing, Agri-products and Processing.

Glencore is one of the world's leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products.

Glencore is acquiring all of the Viterra assets in Australia, including ports, storages, malt houses, packing plants and other supply chain infrastructure.


06 June, 2012