Australian review board okays Glencore-Viterra deal
CALGARY, ALTA. — Australia’s Foreign Investment Review Board has given Glencore International P.L.C. approval to proceed with its acquisition of Viterra Inc. The action completes the Australian regulatory approvals Glencore was required to obtain.
Earlier this month, the Minister of Industry in Canada approved the acquisition under the Investment Canada Act. Additionally, Glencore has received notification from the Ministry of Commerce of the People’s Republic of China that it has moved to the next phase of review of the transaction.
The transaction was first announced in mid-May.
Canada-based Viterra operates three business segments: grain handling and marketing, agri-products and processing.
Based in Baar, Switzerland, Glencore is one of the world’s largest producers and marketers of commodities. The company has activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of metals and minerals, energy products and agricultural products.