Bunge (BG.US) proposed remedies to gain EU approval for its $8.2bn Viterra acquisition
1min read US grain giant BG (BG.US) has submitted remedies to the EU regulatory authorities in an attempt to get approval for its $8.2bn acquisition of Viterra (Viterra), according to a list on the website of the European Commission.
The details of the remedies were not disclosed.
The European Commission is due to decide by August 1 whether to launch a more detailed investigation into the deal.
“We are confident that the remedies we have made address the concerns of the European Commission, which are limited to specific markets,” a BG spokesman said.
Earlier this week, media reports suggested the deal was unlikely to be completed by the end of August as originally planned, as regulators in Canada, China and the EU have yet to approve the acquisition.
It was reported that BG agreed in June to buy Viterra for $8.2bn in cash and stock, creating a global grain trading giant worth about $34bn including debt, but the deal is likely to face close scrutiny from regulators.
