September 28, 2012

Glencore's awaits approval by Chinese on acquisition of Viterra

The previously announced acquisition of Viterra by Glencore International awaits the regulatory approval from the Ministry of Commerce of the People's Republic of China (MOFCOM) under the Chinese Anti-Monopoly Law.

This was announced by Viterra on Wednesday (Sep 26).

Glencore and Viterra continue to engage with MOFCOM to ensure approval as soon as possible. In order to accommodate MOFCOM's review process, Viterra and Glencore have extended the outside date for completion of the acquisition by one month to November 15.

MOFCOM is expected to provide its approval within this timeframe. Viterra and Glencore will advise the market once MOFCOM approval has been received of the subsequent closing date on which the acquisition will occur.