Source: APKinform (Ukraine)
The completion of the merger deal between Bunge Global SA and Viterra, which is backed by Glencore Plc, could be delayed as some relevant authorities in leading countries have not yet given their approval. This was announced by Bunge CEO Greg Heckman, according to a Bloomberg report.
According to him, the deal, which is worth around USD 8 billion and was due to be finalized earlier this year, may now not be fully accepted until early 2025. Although the deal has already been approved by the European Union, some countries, including China and Canada, have yet to approve it.
However, Heckman said he did not anticipate any issues that would significantly affect the economics of the deal.
Bunge Global and Viterra had announced in June last year that they had reached an agreement to merge to form one of the world’s largest agribusiness companies with an estimated value of $25 billion.