Competition Commission of India Approves Bunge's Acquisition of Viterra
Bunge, a global leader in the sale of oilseed meals and vegetable oils, also markets grains, milled products, and unprocessed oilseeds, along with other items such as sugar.
![Competition Commission of India Approves Bunge's Acquisition of Viterra](https://devdiscourse.blob.core.windows.net/devnews/06_06_2019_14_25_56_3517284.png)
- Country:
- India
The Competition Commission of India (CCI) has granted approval for Bunge Global SA’s acquisition of 100% of Viterra Limited’s share capital. This move involves Bunge acquiring all issued and outstanding shares of Viterra, with Viterra’s primary shareholders—Glencore PLC, the Canada Pension Plan Investment Board (CPP Investments), and the British Columbia Investment Management Corporation (BCI)—receiving Bunge stock in exchange. Consequently, these shareholders will hold minority stakes in Bunge following the transaction.
Bunge, a global leader in the sale of oilseed meals and vegetable oils, also markets grains, milled products, and unprocessed oilseeds, along with other items such as sugar. In India, Bunge’s product portfolio includes refined and crude vegetable oils (such as groundnut, mustard, palm, rapeseed, soybean, sunflower, and sesame oils), soybean meal, glycerine, margarine, lecithin, vanaspati, shortenings, yeast, and free fatty acids.
Viterra, which primarily deals with the purchase and sale of unprocessed commodity crops, focuses on grains and oilseeds globally. It also handles other unprocessed products like cotton and sugar, as well as milled and oilseed-based products. In India, Viterra markets grains (wheat, corn, sorghum, and rice), crude vegetable oils (soybean and sunflower oils), sunflower meal, sugar, cotton, pulses, and chickpea and yellow pea flours. Additionally, Viterra engages in limited origination activities in India, dealing in domestic channa, wheat, maize, lentils, and cotton.
The acquisition is set to consolidate Bunge’s position in the agricultural commodities market and expand its operational scope both globally and within India.
- READ MORE ON:
- Competition Commission of India
- Viterra
- Bunge