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By Alice McFarlane

Ag Company's transaction under review

Canadian government to examine proposed Bunge-Viterra merger

Sep 27, 2023 | 9:48 AM

The federal government will review an $8-billion acquisition between grain handler Viterra Limited by Bunge Limited, a global agricultural company.

Transport Minister Pablo Rodriguez said a strong transportation supply chain means more affordable, more available products for Canadians and to ensure fair competition at Canada’s ports, the government will take a closer look at the transaction.

“Both companies hold ownership interests in port terminals throughout our country. Healthy competition in the transportation sector is necessary to ensure fair pricing and access for users, especially for Canadian farmers,” Rodriguez said in a news release.

The deal will be reviewed under the mergers and acquisitions provisions of the Canada Transportation Act. Rodriguez said all goods must move smoothly and the supply chain must continue to grow stronger.

“This is why the government will launch a public interest assessment that will include consultations with Canada’s ports and marine industry, stakeholders, other government departments, other orders of government, and Canadians,” he said.

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Transport Canada has up to 250 days, or until June 2, 2024, to complete the public interest assessment.

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alice.mcfarlane@pattisonmedia.com

On Twitter: @farmnewsNOW