Viterra


Viterra Inc was a Canadian grain handling business, the nation's largest grain handler, with its historic formative roots in prairie grain-handling co-ops, among them the iconic Saskatchewan Wheat Pool Viterra Inc grew into a global agri-business with operations in Canada, the United States, Australia, New Zealand and China Viterra operated three distinct, inter-related businesses: Grain Handling & Marketing, Agri-Products and Processing, enabling it to generate earnings at various points on the food production chain from field to the table Following its $61-billion acquisition by Glencore International, on 1 January 2013 Viterra Inc was merged with Glencore purchaser, 8115222 Canada Inc

Viterra's grain handling and marketing operations were located primarily in two of the world's most fertile regions: Western Canada and South Australia The company owns and operates grain terminals in Western Canada, along with 95% of the grain handling and storage facilities in South Australia The company ships grain to markets worldwide

Viterra was also one of the largest agri-product retailiers in Canada, with a network of more than 250 retail locations throughout the Prairies As part of this business, Viterra owns a 34% interest in Canadian Fertilizer Limited CFI, a large urea and ammonia plant

The company also operates several value-added processing businesses, including wholly owned subsidiaries like Dakota Growers Pasta Company, 21st Century Grain, making it the largest producer of industrial oats in North America, the third largest producer of pasta on the continent, the largest malt producer in Australia, a large producer of canola and a leading producer of feed in New Zealand

At the time of the Glencore's March 2012 back-to-back purchase-and-agreement of Viterra's assets to Agrium, which paved the way for Glencore's purchase of Viterra, in December 2012, Viterra was generating "$24-billion in revenue and $244-million in EBITDA" and operated a "network of 258 agri-products retail locations throughout Western Canada and 17 retail locations in Australia Retail locations offer fertilizer, crop protection products, seed and equipment to growers Viterra also has a minority interest in a nitrogen fertilizer manufacturing plant in Medicine Hat, Alberta"

Contents

  • 1 History
  • 2 Mergers
  • 3 Glencore's Side-Car Agreements in Acquisition of Viterra
  • 4 Further reading
  • 5 See also
  • 6 References

History

Viterra Inc was formed in 2007 as a publicly traded corporation when the Saskatchewan Wheat Pool acquired Agricore United, which was at that time the largest grain handler in Western Canada Viterra's predecessors were the grain-trading co-operatives set up in Canada during the 1920s known as the wheat pools It has since acquired the former Australian government-sponsored monopsony marketing board, the Australian Barley Board, created in 1939

                Grain Growers Grain Company
1906-2008
                         
Saskatchewan Cooperative Elevator Company
1911–1926
                                               
                         
                              United Grain Growers
1917–2001
               
       
  Saskatchewan Co-Operative Wheat Producers
1923–1953
  Alberta Wheat Pool
1923–1998
  Manitoba Pool Elevators
1926–1998
                         
                                      Australian Barley Board
1939–1999
           
           
  Sask Wheat Pool
1953–2007
                                             
                Agricore
1998-2001
                  AusBulk formerly South Australian Cooperative Bulk Handling SACBH
-2004
  United Grower Holdings
-2004
                                                             
                             
                      Agricore United
2001–2007
    ABB Grain
1999–2009
           
                                                       
                     
                                                     
               
                VITERRA
2007-2013
                         

Mergers

Viterra building near Fort Road in Edmonton, Alberta

Following Glencore's takeover of Viterra in December 2012, Viterra underwent some major changes Viterra Inc Viterra was acquired by a Glencore purchaser, 8115222 Canada Inc and merged under the Canada Business Corporations Act CBCA the new board of directors includes Mr Chris Mahoney Director of Agricultural Products of Glencore, Mr Ernest Mostert Financial Manager of Glencore Grain, Mr Robert Wardell and Mr Larry Ruud President & CEO One Earth Farms Corp

On 19 May 2009, Viterra announced it would buy Australian ABB Grain for C$14 billion On 9 September, 84 percent of ABB shareholders voted in favour of the merger, with 75 percent required to pass the resolution

On March 15, 2012, Viterra announced that it had received takeover offers from multiple parties Glencore was revealed to have offered a takeover bid of roughly $6 billion It intends to immediately sell off its Canadian assets to Agrium and Richardson International while retaining Viterra's overseas assets The takeover deal was completed in December 2012

Glencore's Side-Car Agreements in Acquisition of Viterra

In preparation for Glencore's acquisition of Viterra in December 2012, in March 2012 Agrium Inc TSX and NYSE: AGU entered into a back-to-back $CDN115billion purchase and sale agreement with Glencore to acquire "90 percent of Viterra’s Canadian retail facilities, all of its Australian retail facilities, as well as their minority position in a nitrogen facility located in Medicine Hat, Alberta"acquire the majority of Viterra’s Agri-products business upon completion of Glencore’s recently announced supported acquisition of Viterra

Further reading

  • "Agrium to Acquire Viterra's Agri-Products Business from Glencore" Calgary, Alberta: Agrium 20 March 2013  External link in |publisher= help
  • Hasselback, Drew 13 January 2013 "Viterra's sale to Glencore involved a lot of moving parts" Financial Post Retrieved March 30, 2013  This Financial Post article 13 January 2013 described the rapid-fire process circuitous route of the takeover

See also

  • ABB Grain
  • Alberta Wheat Pool
  • Cargill
  • Glencore
  • Richardson International
  • United Grain Growers

References

  1. ^ a b Hasselback, Drew 13 January 2013 "Viterra's sale to Glencore involved a lot of moving parts" Financial Post Retrieved March 30, 2013 
  2. ^ a b "Agrium to Acquire Viterra's Agri-Products Business from Glencore" Calgary, Alberta: Agrium 20 March 2013  External link in |publisher= help
  3. ^ Viterra Provides Corporate Update PDF Report Regina, Saskatchewan 2 January 2013 
  4. ^ "Viterra to buy Australia's ABB for $12 billion" Reuters 19 May 2009 Retrieved 18 September 2009 
  5. ^ Johnston, Kevin 12 September 2009 "Shareholders vote in favour of ABB merger" The Leader-Post Retrieved 27 September 2009 
  6. ^ "Viterra confirms takeover talks" CBC News March 15, 2012 Retrieved 2012-03-15 
  7. ^ "Glencore bids $1625 for Viterra shares" CBC News March 20, 2012 Retrieved 2012-03-20 
  8. ^ "Glencore takeover of Viterra gets final approval" CBC News December 7, 2012 Retrieved 2012-12-10 


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