Glencore Receives Final Regulatory Approval for Acquisition of Viterra
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BAAR, Switzerland, Dec. 7, 2012 /CNW/ - Glencore International plc ("Glencore") announced that on December 7, 2012 it received notice from the Ministry of Commerce of the People's Republic of China ("MOFCOM") that its acquisition of Viterra Inc. ("Viterra") has been approved.
This was the final outstanding regulatory approval of Glencore's acquisition of Viterra pursuant to a court approved plan of arrangement (the "Arrangement"). Glencore now expects the effective date of the Arrangement to be Monday, December 17, 2012, as a result of Viterra and Glencore having agreed to extend the date for completion of the Arrangement. On the effective date of the Arrangement, Glencore will release the funds to be subsequently paid out to shareholders and holders of Viterra's CHESS Depositary Interests (CDIs). The necessary arrangements will also be made to delist Viterra from the Toronto Stock Exchange and the Australian Securities Exchange.
Further to Glencore's July 20, 2012 press release, it confirms that upon closing of the Arrangement the amendments to Viterra's 5.950% Senior Notes due 2020 shall be implemented and consent fee payments to consenting noteholders made shortly thereafter.
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.
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Certain information in this press release is "forward-looking information" and is prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. This information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations.
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SOURCE Glencore International plc