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Glencore to buy Canadian Ag company Viterra

beebee
edited May 2012 in Off-Topic
Glencore, the largest publicly traded commodity supplier, will probably win Canadian approval for its C$6.1-billion ($6.2-billion) agreement to buy Viterra Inc. because it brought in partners including Calgary-based Agrium Inc.

As part of its deal, Agrium, the largest U.S. agricultural retailer, will acquire about 90% of Viterra’s Canadian retail facilities, it said yesterday in a separate statement. It also will buy Viterra’s 34% stake in a nitrogen- fertilizer plant in Alberta.

http://business.financialpost.com/2012/03/21/glencore-avoids-bhps-potash-mistake-with-viterra-deal/

Comments

  • scott
    edited May 2012
    I own Glencore. Thankfully, I bought a while after the IPO. I think it's a remarkably large-scale, largely unique and diverse play on commodities, with an enormous array of various assets around the globe (including farmland.) It's a long-term play for me, but in the meantime, it's quite volatile. Pretty interesting longer-term history/backstory of the company, as well, in "King of Oil", the book on Marc Rich. Current CEO Ivan Glasberg was one of Rich's top "lieutenants."

    Glencore is in the process of a merger with Xstrata (which is heavily owned by Glencore already. Glencore has a fairly long list of subsidiaries that they own or partially own.) It's also buying Viterra and has been rumored to be looking at another grain trader in the US, Gavillon. I'm a little surprised that Archer Daniels Midland did not try more aggressively to buy Viterra.

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