Viterra Inc.
TSX : VT

Viterra Inc.

July 30, 2009 05:40 ET

Viterra Inc.: ABB Lodges Scheme of Arrangement

CALGARY, ALBERTA--(Marketwire - July 30, 2009) - Viterra Inc. (TSX:VT) is pleased to provide an update on the progress of its proposed combination with ABB Grain Ltd. (ABB) through a scheme of arrangement (Scheme). On May 19, 2009, ABB and Viterra announced the signing of an Implementation Agreement under which Viterra proposes to acquire all the issued and outstanding shares of ABB.

The Scheme booklet, which sets out information to assist ABB shareholders in their voting decision regarding the proposed transaction with Viterra, has been registered by the Australian Securities and Investments Commission (ASIC) and filed with the Australian Securities Exchange (ASX). The Federal Court of Australia approved the convening of an ABB shareholder meeting on September 9, 2009 to consider the Scheme.

Should the Scheme be approved by ABB's shareholders, another meeting of ABB's shareholders will be held later that day to consider a constitutional amendment to remove a 15% ownership cap that currently limits the number of shares an individual shareholder of ABB Grain can own. This amendment will facilitate the proposed transaction with Viterra.

The Boards of both companies maintain their strong and unanimous support of the transaction. ABB Directors have confirmed that they intend to vote all of their shares in favour of the combination, in the absence of a superior proposal.

Full details of the proposed transaction, including the indicative timetable, are included in the Scheme booklet which will also be posted to Viterra's website www.viterraaustralia.com and filed on SEDAR at www.sedar.com.

About Viterra

Viterra Inc. is Canada's leading agribusiness, with extensive operations and distribution capabilities across Western Canada, and with operations in the United States, Japan, Singapore and Geneva. The Company is diversified into sales and services of crop inputs and equipment, grain handling and marketing, livestock feed, agri-food processing and financial products. These operations are complemented by value-added businesses and strategic alliances, which allow Viterra to leverage its pivotal position between Prairie farmers and destination customers. The Company's common shares are listed on the TSX under the symbol VT.

About ABB

ABB Grain Ltd. is a leading Australian agribusiness with a multi-faceted operation and international focus. ABB's diversified operations stretch across the entire supply chain. The company's core business divisions include national supply chain, grain marketing, malt and rural services. ABB employs 1100 staff across its divisions throughout Australia and its international operations.

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