Industry Canada

Industry Canada

July 15, 2012 14:54 ET

Minister Paradis Approves Glencore International plc's Acquisition of Viterra Inc.

OTTAWA, ONTARIO--(Marketwire - July 15, 2012) - The Honourable Christian Paradis, Minister of Industry, today made the following statement regarding the acquisition of Viterra Inc. by Glencore International plc:

"I have approved Glencore's application under the Investment Canada Act to acquire control of Viterra.

"I approve an application under the Act if I am satisfied that the investment is likely to be of net benefit to Canada.

"In making my determination, I carefully consider the plans, undertakings and other information submitted by the investor in light of the net benefit factors listed in section 20 of the Act.

"Glencore has made a number of commitments to Canada. These are described in its press release issued on July 15, 2012."

"The approval of this transaction demonstrates that our investment policies are working, helping to create jobs, growth and long-term prosperity."

Contact Information

  • Margaux Stastny
    Director of Communications
    Office of the Honourable Christian Paradis
    Minister of Industry

    Media Relations
    Industry Canada