BRUSSELS, BELGIUM — EU antitrust regulators will decide by July 18 on the proposed acquisition of Viterra Ltd. by Bunge Global SA, Reuters said, citing a European Commission filing.
Bunge and Viterra announced last June that they had agreed to a merger that will create one of the world’s largest agribusiness companies, moving it closer in size and scope to leading agribusiness giants Cargill and ADM.
The companies said once regulatory approvals are obtained, they expect the transaction to close this summer. Bunge also has unveiled its new leadership team.
The European Commission can either clear the deal with or without remedies after its preliminary review or it can open a four-month investigation.
In April, the Competition Bureau of Canada said the proposal is likely to result in substantial anti-competitive effects and a significant loss of rivalry between Viterra and Bunge in agricultural markets in Canada.
Regulatory approval also is needed in North America, South America and China.