Bunge agrees to buy Viterra, creating a trading giant capable of competing with the world’s biggest agricultural players. Read more
Glencore bought Viterra and its substantial Canadian operations in 2012. It later sold a 40 per cent stake in the company toand a nearly 10 per cent stake to B.C. Investment Management in 2016.
After a wrong-way bet on soybean prices resulted in a surprise quarterly loss in 2018, Heckman took the helm at Bunge, cutting costs, selling under-performing businesses and focusing on risk management. The company has also benefited from the market turmoil and volatility caused by the war in Ukraine, while a boom in renewable diesel has helped underpin profits.Article content
Glencore has flirted with the idea of a deal with Bunge on and off for years. In 2017, it approached Bunge about a friendly takeover, but was publicly rebuffed. Since then, Bunge has replaced its new chief executive officer and other senior executives.
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