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Bunge and Viterra's $34 billion merger to receive conditional EU approval

25 July 20242 min reading

Bunge and Viterra's anticipated $34 billion merger deal awaits conditional antitrust approval from the EU. Preparing to form one of the world's largest agricultural trading firms, the companies will adjust their proposed remedies to overcome the European Commission's competition concerns.

U.S. grains merchant Bunge and Glencore-backed Viterra are close to securing conditional EU antitrust approval for their $34 billion merger, a Reuters source with direct knowledge of the matter revealed. The merger aims to have one of the world’s largest agriculture trading firms, positioning the new entity to better compete with market leaders Archer-Daniels-Midland and Cargill.

To address EU competition concerns, Bunge and Viterra proposed selling Viterra’s oilseed crush and refining plants in Hungary and Poland. Following feedback from market participants, they will further tweak these remedies. The European Commission is expected to make a decision by August 1. Bloomberg was the first to report the impending EU approval. Neither the Commission nor Bunge commented on the matter.

The merger has already received approval in Brazil but faces regulatory challenges and farm group opposition in Canada. 

The strategic move by Bunge and Viterra highlights the ongoing consolidation in the agriculture sector, as companies seek to scale up and enhance their competitive edge in the global market.


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