Bunge-Viterra merger secures final regulatory nod from China
With China’s green light, Bunge has now secured all required regulatory consents, including conditional approvals from key markets such as Canada and the European Union
USA – The US$18 billion merger between Bunge Global SA and Viterra Ltd. is now set to close “on or around July 2,” following the final regulatory approval granted by China’s State Administration for Market Regulation.
The approval marks the last hurdle in one of the agribusiness sector’s most consequential mergers, originally announced in June 2023.
With China’s green light, Bunge has now secured all required regulatory consents, including conditional approvals from key markets such as Canada and the European Union. The deal will see Bunge assume Viterra’s US$9.8 billion in debt, while shareholders of the Glencore-owned trader are set to receive approximately 65.6 million shares of Bunge stock valued at US$6.2 billion, along with US$2 billion in cash.
“This approval underscores the strategic rationale behind bringing Bunge and Viterra together to create a premier global agribusiness company,” said Greg Heckman, CEO of Bunge.
He added that as one team, the merger will accelerate their shared vision for growth and fulfill their purpose to connect farmers to consumers to deliver essential food, feed, and fuel to the world.
The merger brings together two of the world’s leading crop trading and processing firms, positioning the new entity as a formidable competitor to industry giants such as Archer Daniels Midland (ADM) and Cargill.
The combined company will significantly expand its reach in grain handling and oilseed processing, enhancing its ability to serve a global food chain increasingly under pressure from climate volatility, geopolitical risks, and shifting trade flows.
Rotterdam-based Viterra, majority-owned by Switzerland’s Glencore PLC since 2012, confirmed that “all regulatory closing conditions have been satisfied,” signaling readiness for the transaction to proceed in early July.
Glencore’s long-term strategic involvement in agriculture has steadily shifted, and this merger represents a major transition in its portfolio.
Delays in securing regulatory clearance had pushed back the original mid-2024 timeline. In a February earnings call, Bunge’s Heckman noted that the company was actively preparing for closure, including asset divestments required in Europe and ongoing discussions with Chinese regulators.
“Teams of both companies have put in countless hours of planning to ensure smooth integration so that our customers at both ends of the value chain, farmers and consumers, see good continuity of service,” he said.
Once finalized, the merger is expected to reshape the landscape of global agribusiness, creating a vertically integrated powerhouse with the scale and operational scope to navigate increasingly complex supply chains and meet growing demand for food security and renewable fuels worldwide.
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