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(Bunge video screengrab via Vimeo)
Crops, Markets

Bunge shareholders bless Viterra wedding

Company still expects to close deal mid-2024

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Shareholders in U.S. grain and agrifood giant Bunge have voted their advance approval of the company’s plans to take up one of Canada’s biggest grain industry players. Bunge on Thursday announced the results of an extraordinary general meeting of shareholders, in which they approved the acquisition of Viterra and a related issue of about 65.6 […] Read more
The Cascadia grain terminal at the Port of Vancouver is co-owned by Viterra and Richardson International. (Viterra.ca)
Crops, Markets

Transport Canada to review Bunge-Viterra marriage plans

Competition Bureau also to probe proposed deal

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Canada’s federal transport department will conduct its own review of U.S. grain giant Bunge’s plans to buy and merge with Viterra — with an eye particularly on both companies’ stakes in Canadian port terminals. Transport Minister Pablo Rodriguez announced Tuesday that his department will review the deal under the mergers and acquisitions provisions of the […] Read more
Viterra’s oilseed crush plant at Becancour, Que. (Viterra.com)
Crops, Machinery, Markets, Reuters

Bunge deal for Viterra to boost oilseed dominance, renewable diesel potential

Canada's Competition Bureau pledges to review deal

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Chicago | Reuters — Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s crushing capacity will increase […] Read more
Signage on Viterra’s office building in Regina. (Dave Bedard photo)
Crops, Markets

Bunge, Viterra confirm marriage plans

Firms to merge under Bunge banner

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The grain handler built out from the foundations of the former Prairie pools is set to be absorbed into one of the world’s biggest grain trading firms in a cash-and-stock deal. After the news leaked out last month, Rotterdam-based Viterra confirmed Tuesday morning it’s “concluded an agreement” to merge into Bunge — the St. Louis-based […] Read more
J.P. Morgan’s estimate puts the market cap of a combined Bunge and Viterra at around US$25 billion.
Crops, Markets, Reuters

Bunge, Viterra merger would create global ag trading giant

Companies have some overlap in Canadian crushing

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Reuters — A merger of U.S. grains merchant Bunge Ltd. with rival Viterra would grow the combined entity’s businesses in the U.S., Brazil and Australia and may raise competition concerns in parts of Canada and Argentina, where key oilseed processing assets overlap, analysts said. Sources last week said Bunge and Viterra were in talks for […] Read more
Signage on Viterra’s office building in Regina. (Dave Bedard photo)
Crops, Reuters

Viterra in talks to merge with Bunge, source says

Merger would vault Viterra into top tier of grain trade

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Reuters — Global grain trader Viterra is in talks to merge with U.S. rival Bunge Ltd., according to a person familiar with the matter, in a potential mega-deal that would reshape the top tier of global grains merchants. There is no certainty that Viterra, part-owned by Switzerland-based mining and trading giant Glencore, will be able […] Read more
(Bunge video screengrab via Vimeo)
Crops, Markets, Reuters

Bunge expects U.S. renewable diesel capacity of about five billion gallons by 2024

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Chicago | Reuters — U.S. renewable diesel production capacity will more than double to about five billion gallons by 2024 from about two billion gallons, Bunge CEO Greg Heckman said on Tuesday. The agricultural commodities trader has not altered its own capacity plans due to a U.S. government proposal on biofuels announced last week, Heckman […] Read more
Bunge’s refined and specialty oils segment turned in stronger quarterly earnings in the Americas and Europe. Photo: Thinkstock
Reuters

Crop merchant Bunge raises full-year profit outlook

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Agricultural commodities trader Bunge Ltd BG.N on Wednesday raised its full-year earnings outlook after posting an adjusted third-quarter profit that topped expectations, sending its shares up about 2 per cent in premarket trading. The improved forecast was attributed to favorable market conditions as tight global crop supplies and strong demand have benefited supply chain middlemen […] Read more
(BungeMOE.com)
Crops, Reuters

Bunge to sell oilseed processing business in Russia

Grain firms scaling back Russian business

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Reuters — Agricultural commodities trader Bunge said Monday it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group. The sale includes the sunflower processing plant in Voronezh. Bunge and its rivals ADM, Cargill and Louis Dreyfus — part of the so-called ABCD quartet of global […] Read more
Then-federal Agriculture Minister Gerry Ritz (second from right) announces G3’s plan to take a majority stake in CWB in April 2015 in Winnipeg. (Dave Bedard photo)
Crops

Farmers’ CWB class action lawsuit gets certified

Suit claims federal government wrongly used farmers' money to help privatize the Wheat Board

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A class action lawsuit alleging the government of Canada and G3 Canada Ltd. unlawfully used millions of farmer dollars to privatize the Canadian Wheat Board (CWB) has been certified after wending its way through the courts for 10 years. Court of Queen’s Bench Justice Chris Martin delivered his written judgment Tuesday in Winnipeg, clearing the […] Read more

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