Canada's competition concerns about U.S. agribusiness Bunge's planned takeover of rival Viterra sets the stage for the companies to sell some assets to close...
WINNIPEG, Manitoba - Canada 's competition concerns about U.S. agribusiness Bunge's planned takeover of rival Viterra sets the stage for the companies to sell some assets to close the deal, experts said.The Competition Bureau in Canada , a major grain and canola exporter, said on Tuesday it was worried about reduced competition to buy farmers' crops in Western Canada and to sell canola oil in Eastern Canada if the deal proceeds.
G3 is a "Cadillac export machine," with its four-year-old terminal at Port of Vancouver and modern country grain-handling facilities, Brewin said, adding that canola-crushing facilities would also see strong buying interest. The Competition Bureau specifically cited concerns about reduced competition to buy farmers' canola around Bunge's crushing plants in Nipawin, Saskatchewan and Altona, Manitoba. It also worried about reduced competition in selling canola oil in Ontario and Quebec, where Bunge, Viterra and Archer-Daniels-Midland are the only producers.
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