EU Clears Bunge’s acquisition of Viterra with conditions

In Brussels, The European Commission has approved Bunge Global S.A.’s acquisition of Viterra Limited, contingent on specific conditions to address competition concerns. The Commission’s investigation revealed that the merger, as initially proposed, would have reduced competition in the oilseeds market in Central Europe, impacting products such as animal feed, cooking oils, and biodiesel.

Both Bunge and Viterra are key players in the global agribusiness sector, particularly in oilseeds like rapeseed, soybean, and sunflower seed.

To mitigate these issues, Bunge and Viterra agreed to divest all of Viterra’s oilseed businesses in Hungary and Poland, including related logistical assets. This divestiture aims to eliminate competitive overlaps and maintain market competition.

Margrethe Vestager, Executive Vice-President in charge of competition policy, stated, “Preventing market concentration in agricultural supply chains is crucial for both farmers and consumers. The divestiture of Viterra’s entire oilseeds business in Hungary and Poland will preserve competition in these markets.”

The decision is conditional upon full compliance with these commitments, with an independent trustee overseeing the implementation. This move ensures that the merger will not impede effective competition in the European Economic Area.