United States grains merchants Bunge and Glencore-backed Viterra are merging to create an agricultural trading giant worth about $34bn including debt, the companies have said, in a deal that will likely draw close regulatory scrutiny.The deal, announced on Tuesday, brings the combined company closer in global scale to leading rivals Archer-Daniels-Midland and Cargill. It values Bunge and Viterra at about $17bn each. Bunge shareholders, however, will own about 70 percent of the company because Bunge will pay for a significant chunk of the deal with cash.The deal is unprecedented in size in the global agriculture sector. It comes after Bunge posted record adjusted profits in 2022, benefitted from tight global grain supplies due to Russia’s war on Ukraine.
Load More
Load More