Bunge to Buy Viterra: CCI Approves Acquisition
The Competition Commission of India (CCI) has given the green light for Bunge to acquire 100% of the share capital of Viterra. This means Bunge will own all the shares of Viterra.
Viterra’s main shareholders, including Glencore PLC, the Canada Pension Plan Investment Board (CPP Investments), and the British Columbia Investment Management Corporation (BCI), will receive shares of Bunge. However, they will hold a minority stake after the deal is completed.
About Bunge
Bunge is a global company that mainly sells oilseed meals and vegetable oils. They also sell grains, milled products, unprocessed oilseeds, and other items like sugar. In India, Bunge’s products include various refined and crude vegetable oils, soybean meal, glycerine, margarine, lecithin, vanaspati, shortenings, yeast, and free fatty acids.
About Viterra
Viterra is a global agriculture network that connects producers and consumers to supply sustainable, traceable, and quality-controlled agricultural products. Headquartered in Rotterdam, the Netherlands, Viterra covers the entire global supply chain from farm to end user. The company focuses on grains and oilseeds and also deals with raw products like cotton and sugar. In India, Viterra sells grains such as wheat, corn, sorghum, and rice, as well as raw vegetable oils like soybean and sunflower oils.
Doubts Revealed
Bunge -: Bunge is a big company that sells things like vegetable oils, grains, and other food products all over the world.
Viterra -: Viterra is a company that helps farmers sell their grains and oilseeds to people who need them.
CCI -: CCI stands for the Competition Commission of India. It is a government body that makes sure companies don’t do things that are unfair to other companies or customers.
Acquisition -: An acquisition is when one company buys another company. In this case, Bunge is buying Viterra.
Share capital -: Share capital means the total value of all the shares of a company. When Bunge buys Viterra, it will own all of Viterra’s shares.
Glencore PLC -: Glencore PLC is a big company that deals with natural resources like metals and minerals. It owns part of Viterra.
CPP Investments -: CPP Investments is a group that manages money for the Canada Pension Plan, which helps people in Canada save for retirement. They also own part of Viterra.
BCI -: BCI stands for British Columbia Investment Management Corporation. It manages money for public sector workers in British Columbia, Canada, and owns part of Viterra.
Minority stake -: A minority stake means owning less than half of a company. After Bunge buys Viterra, the previous owners will still have a small part of the company.
