Bunge has completed the final grain elevator divestment required under its merger agreement with Viterra, selling its Valparaiso, Sask., facility to Cargill, the Missouri-based company said Friday.
The sale marks the sixth and final facility Bunge committed to divest as part of the Canadian government’s conditions for approving one of the largest agri-business mergers in recent years.
The Valparaiso elevator had been held separate from Bunge’s broader operations since July 2 and managed by an independent hold separate manager, in accordance with federal oversight requirements, Bunge said in the statement.
The divestiture process for all six facilities was monitored by a government-approved third party. Financial details were not disclosed.