The federal government says it plans to review the $8-billion sale of Canadian-based grain-handling firm Viterra to a European-based conglomerate.
Viterra is controlled by multinational commodities giant Glencore, which bought the company in 2011. Prior to that, Viterra was known as Saskatchewan Wheat Pool, a Regina-based co-operative that helped stabilize grain prices on behalf of farmers for decades.
Amid a round of consolidation in the commodities sector earlier this year, Danish agribusiness giant BungeViterra has about 1,600 employees in Canada, scattered across 75 locations primarily in Western Canada. But around the world, Viterra has a presence in three dozen countries, employing more than 16,000 people and moving more than 70 million tonnes of grain every year.
Among other assets, Viterra owns the Cascadia and Pacific Terminals at the Port of Vancouver, a grain facility in Prince Rupert, B.C., two facilities in Thunder Bay, Ont., and one in Montreal. It's the second government review of the deal, after Canada's Competition Bureau announced in June it, too, would be taking a look at it.
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