|Richardson Gets Green Light|
|Written by Neil Billinger|
|Thursday, 20 December 2012 14:34|
The federal Competition Bureau has given regulatory clearance for Richardson to close an $800 million transaction with Glencore International.
The agreement was announced in March as part of Glencore's $6.1 billion purchase of Viterra.
"We are pleased to finalize this deal and acquire these assets, which will allow us to provide Western Canadian farmers with more choice in the marketplace," said Curt Vossen, President of Richardson International.
The company has received all regulatory approvals to proceed and will work with Glencore to close the transaction as soon as possible in 2013.
When the sale is finalized, Richardson will own 19 Viterra country elevators and the crop input centres at those locations. Ten of the elevators are in Saskatchewan at Assinaboia, Carrot River, Davidson, Kindersley, Unity, Melville, Langenburg, Alameda, Maple Creek and Regina East.
Richardson will also own Can-Oat Milling (including a facility at Martensville), a Viterra terminal at Thunder Bay and a 25 per cent ownership interest in Cascadia Terminal at Vancouver.