Viterra Inc.

Viterra Inc.

May 13, 2009 14:18 ET

Viterra Closes Subscription Receipt Offering

CALGARY, ALBERTA--(Marketwire - May 13, 2009) -


Viterra Inc. ("Viterra") announced today that the $450,000,000 subscription receipt offering, announced on April 29, 2009 (the "Offering") has closed successfully. The transaction was underwritten by a syndicate let by TD Securities Inc. and Genuity Capital Markets, and that also included Macquarie Capital Markets Canada Ltd., Scotia Capital Inc., HSBC Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., National Bank Financial Inc. and RBC Dominion Securities Inc. (the "Underwriters").

The Offering will provide a portion of the funding that may be required should Viterra's proposed acquisition of shares of ABB Grain Ltd., via an Australian scheme of arrangement be completed.

Under the public offering, 56,250,000 subscription receipts of Viterra have been issued and sold for gross proceeds to Viterra of $450,000,000. Each subscription receipt entitles the holder to receive, for no additional consideration, one common share of Viterra upon the initial take-up by Viterra before November, 30, 2009 of all of the outstanding common shares of ABB Grain Ltd.

The subscription receipts and resulting Common Shares will be subject to an aggregate hold period in Canada of four months after the Closing Date and will not be freely tradable by holders during that time.

In the event a definitive agreement is not entered into with ABB and publicly announced by June 30, 2009, acquisition closing does not occur before November 30, 2009, or the acquisition is terminated at an earlier time, holders of the subscription receipts will receive a refund of the full purchase price of the subscription receipt, together with their pro rata share of interest earned thereon between the Closing Date and the Termination Date (less applicable withholding tax, if any).

For U.S. Shareholders

The securities offered hereby have not and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") and may not be offered or sold in the United States or to U.S. persons (as defined in Regulation S under the 1933 Act) unless the securities have been registered under the 1933 Act, or are otherwise exempt from such registration.

Forward-Looking Information

This release contains forward looking statements that involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such statements. Important factors that could affect these statements include, without limitation, weather conditions; producer's decisions regarding total planted acreage, crop selection, and utilization levels of farm inputs such as fertilizers and pesticides; Canadian grain export levels; changes in government policy and transportation deregulation; world agricultural commodity prices and markets; changes in competitive forces including pricing pressures; and global political and economic conditions, including grain subsidy actions of the United States and European Union.

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 Toronto Stock Exchange under the symbol VT.

Contact Information

  • Viterra Inc.
    Colleen Vancha
    Shareholder Contact
    (306) 569-4782