Glencore receives approval from Australia's FIRB
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BAAR, Switzerland, July 26, 2012 /PRNewswire/ - Glencore International plc ("Glencore") announced that on 26 July 2012 it received notice from the Foreign Investment Review Board (FIRB) that its acquisition of Viterra Inc. ("Viterra") has been approved. This completes the Australian regulatory approvals Glencore was required to obtain.
Chris Mahoney, Director of Agricultural Products, Glencore said, "We are very pleased to have received FIRB approval. For almost ten years Glencore has forged close relationships with Australian grain growers. The acquisition of Viterra will strengthen our commitment to the future of the Australian grain industry.
"We have noted the process improvement undertakings made by Viterra in its responses to the South Australian Post Harvest Working Group Review in the 2010/11 season and we are committed to implementing them. In addition, we intend to work closely with the Australian Competition and Consumer Commission (ACCC) to further refine access arrangements governing South Australian grain ports."
About Glencore International plc
Glencore is one of the world's leading integrated producers and marketers of commodities, headquartered in Baar, Switzerland, and listed on the London and Hong Kong Stock Exchanges. Glencore has worldwide activities in the production, sourcing, processing, refining, transporting, storage, financing and supply of Metals and Minerals, Energy Products and Agricultural Products.
SOURCE Glencore International plc