Bunge (BG.US) has received approval in Canada for its $8bn acquisition of Viterra.

One of the world's largest agricultural traders, Bunge (BG.US), has received Canadian approval for its $8bn acquisition of Canadian grain merchant Viterra Inc.

The decision, made on Tuesday, follows delays in global regulatory approvals for the deal, which was originally due to be completed in mid-2024. The Canadian approval comes with conditions, including the sale of some assets.

Bunge is one of the so-called ABCD, the four companies that have dominated the agricultural commodities market for more than a century. The deal for Viterra, announced in June 2023, will create a $25bn giant that can compete with the industry elite: Archer-Daniels-Midland (ADM.US) and Cargill represent the “A” and “C” respectively, while Louis Dreyfus represents “D”.

Bunge said in a statement: “This is a significant milestone in the process of completing the Bunge-Viterra transaction. With the Canadian approval, we are now completing the regulatory process and expect to close in early 2025.”

Bunge is still waiting for approval from Chinese regulators.

Earlier, Canada's competition regulator had expressed concerns about the deal, saying it would have a “substantial anticompetitive effect” on the agricultural market.

Greg Heckman, Bunge's chief executive, sought to allay those fears in a commentary article in a Canadian trade publication last year, saying the deal was in Canada's interest and would not result in the closure of any facilities there. He also stressed that he disagreed with a report that had raised concerns about Bunge's stake in G3, a joint venture between the US crop giant and Saudi Agricultural & Livestock Investment Co.

As part of the approval, Bunge will need to sell six grain elevators in western Canada. In addition, Bunge's minority stake in G3 will be controlled, with the company pledging to invest at least C$520m ($362m) in Canada over the next five years.