By Ismail Shakil
OTTAWA (Reuters) -Canada on Tuesday approved with conditions U.S. grains merchant Bunge (NYSE:)’s $34 billion merger with Glencore-backed Viterra, clearing one of the final remaining obstacles for a global agriculture tie-up that is unprecedented in dollar value.
The conditions for the approval include Bunge’s divestiture of six grain elevators in Western Canada and a binding commitment from Bunge to invest at least C$520 million ($362 million) in Canada within the next five years, according to a statement from the transport ministry.
The approval also requires strict and legally binding controls on Bunge’s minority stake in Saudi-owned grain company G3 to ensure Bunge cannot influence G3’s pricing or investment decisions, the ministry said. Bunge, Viterra and G3 account for a combined one-third of Western Canada’s elevator capacity.
The merger, announced in 2023, would create a global crops trading and…
