Question Period Note: BUNGE-VITERRA MERGER

Q1 – What are the terms and conditions of the acquisition?

My colleague, the Minister of Transport, is responsible for this decision and is best placed to address further questions.

On August 15, 2023, Bunge Limited, a global agricultural company, and Viterra Limited, Canada’s largest grain handler, notified the former Minister of Transport that Bunge Limited had proposed to acquire Viterra Limited. This triggered two reviews, one by the Competition Bureau which reviewed the impact of the acquisition on competition, and one from Transport Canada which focused on public interest issues related to Canada’s transportation sector and supply chains.
In spring 2024, both the previous Minister of Transport and the Competition Bureau completed their respective studies on the proposed acquisition. While Transport Canada’s public interest assessment was not made public, the Competition Bureau released its report. It noted that anti-competitive effects in the grain origination and oilseed sectors, as well as the merged entity, would have great power over G3’s operations. The report also found that the acquisition is unlikely to lead to a substantial prevention or lessening of competition with respect to the use of port terminals in Canada.
Despite the Commissioners’ concerns, the previous Minister of Transport determined that, taking into consideration all of the Terms and Conditions, approval of the transaction would be in the public interest.
The former Minister of Transport and Internal Trade announced on January 14, 2025, that the Government of Canada had approved the acquisition with conditions.
The merger still requires regulatory approval in China as of May 6th, 2025.
In 2021, Viterra had announced plans to construct a new canola crush plant in Saskatchewan. However, recent reports appear to confirm that it will not proceed given market factors.

• The Government of Canada approved Bunge Global SA’s acquisition of Viterra Limited on January 14th, 2025, with extensive terms and conditions meant to protect the public interest and mitigate potential impacts on Canadian operations.

• We remain committed to supporting the sector, recognizing its contributions as a leading producer, processor and exporter of high-quality grain.

• We recognize that some grain producers and companies may still have concerns about the merger and the potential impacts on Canada’s grain industry. However, we believe the terms and conditions will help to ensure healthy competition, fair pricing and fair options for Canadian farmers to market their grain.