| Decision | Consent granted Section 13(1)(a) Overseas Investment Act 2005 |
|---|---|
| Decision date | 7 August 2012 |
| Investment | An overseas investment in significant business assets, being the Applicant's acquisition of rights or interests in 100% of the shares of Viterra Inc., the value of the assets of Viterra Inc. and its 25% or more subsidiaries being greater than $100m. |
| Consideration | $229,204,579 |
| Applicant | 8115222 Canada Inc Glencore International Pls Jersey, Various (100.0%) |
| Vendor | Existing shareholders of Viterra Inc. Canada (100%) |
| Background | Glencore is one of the world’s leading commodity producing and marketing companies, with three principal areas of operations involving agricultural products, metals and minerals, and energy products. It seeks to purchase the shares of Viterra Inc., a Canadian listed company, which operates in grain handling and marketing, agri-products and processing. Viterra Inc. has a New Zealand subsidiary, Viterra (NZ) Limited, with assets of more than $100,000,000. The overseas investment transaction has satisfied the criteria in section 18 of the Overseas Investment Act 2005. |
| More information | Andrew W Harmos Harmos Horton Lusk PO Box 28 Shortland Street AUCKLAND |