Competition Bureau raises concerns about Viterra acquisition
THE CANADIAN PRESS/Sean Kilpatrick
Transport officials have until June 2 to undertake a public interest assessment of the acquisition of Canadian grain handling business Viterra by U.S. agribusiness Bunge for Transport Minister Pablo Rodriguez, pictured.
Canada’s Competition Bureau is raising some concern about the acquisition of Canadian grain handling business Viterra by U.S. agribusiness Bunge.
The Bureau issued a report on April 23 saying the acquisition could result in “substantial anti-competitive effects and a significant loss of rivalry between Viterra and Bunge in agricultural markets in Canada.”
The Competition Bureau filed the report as part of the Canadian government’s review of the transaction.
Transport officials have until June 2 to undertake a public interest assessment of the acquisition for Transport Minister Pablo Rodriguez.
Viterra is about 50 per cent owned by Swiss-based mining company Glencore. The Canada Pension Plan Investment Board owns a 40 per cent in the company.
The Globe and Mail’s Rod Nickel reports that concerns from the Competition Bureau may force the companies to sell some assets to get approval of the deal.
