OTTAWA (Reuters) – The Canadian government said on Tuesday it had given conditional approval to a merger agreement between Bunga (NYSE:) and Glencore-backed Viterra.
Conditions for the deal approval include Bunge’s divestment of six grain elevators in western Canada and a binding commitment by Bunge to invest at least C$520 million in Canada over the next five years, according to a statement from the transport ministry.
“This decision underscores the importance of promoting economic growth in Canada while maintaining strong oversight to protect competition and the public interest,” Transport and Internal Trade Minister Anita Anand said in a statement.
