Glencore grabs Canadian wheat « Mining Blog

Glencore grabs Canadian wheat

30. May 2012,

Shareholders of Canada’s largest grain handler, Viterra Inc have voted overwhelmingly in favor of a friendly takeover bid by UK-listed commodities trader and mining megalith, Glencore International Plc.

The acquisition still needs approval by regulators in Canada and Australia, but presuming it gets it, Glencore would become a significant player in what is the world’s biggest export market of canola and spring wheat.

Although some of Viterra’s operations are being hived off to other companies, Glencore will control most of Viterra’s country and port grain storage in Western Canada, some food processing assets, and its grain storage and handling assets in South Australia.

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