Viterra Inc. has completed its acquisition of ABB Grain Ltd, and four former directors of ABB have joined Viterra's Board of Directors as agreed on May 19, 2009 on a signed agreement.
Viterra has already undertaken significant integration planning of the two companies, said Mayo Schmidt, president and CEO of Viterra.
The merger marks the company's new role as a leading global ingredients supplier, and the company is well-positioned to support the existing the future needs of both its producer and destination customer base as well as the ever-increasing demand for quality food in Asia and Southeast Asia, said Schmidt.
An aggregate cash amount of A$751,689,273.37 (US$658.3 million) has been paid into the trust account designated by ABB. An aggregate of 78,296,645 new shares of Viterra (the "New Viterra Shares") have been issued, of which 9,634,338 New Viterra Shares were issued to ABB shareholders who elected to receive common shares of Viterra.
Dispatch of share certificates representing these New Viterra Shares is expected to commence on or about September 28, 2009.
All ordinary shares of ABB have been delivered and registered in the name of Viterra Australia.
Gunner was the Chair of ABB's Board and served on its Nomination and Remuneration Committees. He is a director of Australian Vintage Ltd. and Freedom Nutritional Foods Limited and a previous director of AusBulk Ltd.
Osborn was the Chair of ABB's Finance and Audit Committees of the Board, and a member of the Corporate Risk and Compliance and Remuneration Committees. He is deputy chairman of Bendigo and Adelaide Bank Ltd and Director of Leaders Institute of SA Inc. Osborn will participate on Viterra's Audit Committee and a newly formed Safety, Health and Environment Committee.










