The Canadian Federal Government has approved with conditions Bunge Global’s acquisition of Viterra Ltd. with the deal expected to close in early 2025. The merger, first announced in 2023, will create a global crops trading and processing giant worth $34 billion including debt.

Per the Ministry of Transport and Internal Trade, the terms and conditions of the deal will help ensure that the acquisition does not have a negative impact on competition in Canada’s grain and oilseed sector, notably for grain purchasing in Western Canada and the sale of canola oil in Central and Atlantic Canada. They expect that “farmers will have a wide range of competitive options when they sell their canola and other crops, as well as continue to receive fair prices for their produce.”

Specifically, the terms and conditions include:

• Bunge’s divestiture of six grain elevators in Western Canada to maintain competitive options for farmers in the region
• Strict and legally binding controls on Bunge’s minority ownership stake in G3, another important grain company, to ensure Bunge cannot influence G3’s pricing or investment decisions
• A price protection program for certain purchasers of canola oil in Central and Atlantic Canada to safeguard fair pricing and market stability
• Retaining Viterra’s head office in Regina for at least five years to protect Canadian jobs
• A binding commitment from Bunge to invest at least $520 million in Canada within the next five years, which will foster economic growth, productivity and job creation

There are also over 20 other conditions intended to “enhance the public interest benefits of the acquisition” and if you’re having trouble sleeping some night, you can review the full list at the Orders in Council online database.