Decision Summary - Viterra Inc.
| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 22 July 2009 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100.0% of the shares of ABB Grain Limited, the value of the assets of ABB Grain Limited and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $128,000,000 |
| Applicant | Viterra Inc. Canada (50.27%), United States of America (43.47%), Various (6.26%) |
| Vendor | Existing Shareholders of ABB Grain Limited Australia (74.46%), United States of America (14.06%), Various (6.3%), United Kingdom (except Isle of Man and the Channel Islands) (5.18%) |
| Background | The combination of Viterra and ABB Grain will create a leading global position in the origination of wheat, barely, canola and pulses. The combined company will be the leading marketer of these products to key markets in Asia, Europe and the Middle East. The increased scale and strong balance sheet is expected to provide additional stability to earnings and lower the group's risk profile, while positioning the combined group to capitalise on potential future growth opportunities. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Andrew Petersen Bell Gully PO Box 4199 AUCKLAND 1140 |
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