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Glencore to acquire Viterra in US$6.1 billion deal

Fasken
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Overview

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Viterra Inc.

On March 20, 2012, Glencore International plc ("Glencore") (LSE:GLEN)(HKSE:805) and Viterra Inc. ("Viterra") (TSX:VT)(ASX:VTA) announced the signing of an agreement pursuant to which Glencore has agreed to acquire all of the issued and outstanding shares of Viterra for C$16.25 per share in cash by way of a court approved plan of arrangement. The transaction values Viterra's equity at approximately C$6.1 billion on a fully diluted basis and will be funded out of Glencore's existing cash resources and available credit facilities. Viterra is one of the world's leading global agri-businesses and food ingredients companies. Operating three vertically integrated business segments of Agri-products, Grain Handling and Marketing, and Processing, the Company adds value and captures margin at numerous points along the food production value chain. With sourcing capabilities in multiple geographies and a marketing network spanning the globe, Viterra supplies food ingredients to more than 50 countries worldwide. Glencore is one of the world's leading integrated producers and marketers of commodities, having worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products. Viterra’s Board of Directors was advised in this matter by a team of Fasken Martineau lawyers that included Bill Orr, Sean Stevens, Aaron Atkinson, Anthony Baldanza, Huy Do and Doug New.

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