Symbol go
GD         Turnover  mln.

Glencore Agrees to Extension of Review of Viterra Deal

  e-mail
   By Nathalie Tadena 
 

Glencore International PLC (GLEN.LN) said it has agreed to an extension of Canada's review of the company's proposed nearly 6-billion-Canadian-dollar acquisition of grain handler Viterra Inc. (VTRAF, VT.T) by an additional 30 days.

The review period was initially scheduled to end on June 28. The deal is expected to close by the end of July.

In May, Glencore was cleared by Canadian competition authorities to proceed with its proposed takeover of Viterra. Last week, Australia's competition regulator approved the deal.

Glencore has lined up Canadian partners Richardson International and Agrium Inc. (AGU, AGU.T) to join in the takeover, each of which are expected to buy some of Viterra's assets from Glencore.

 

Write to Nathalie Tadena at nathalie.tadena@dowjones.com

 

(END) Dow Jones Newswires

June 15, 2012 17:43 ET (21:43 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Follow Capital.gr to Social Media
  Did you find this article interesting?: