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Bunge offers to sell Viterra's oilseeds facilities in Poland, Hungary, source says
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Bunge offers to sell Viterra's oilseeds facilities in Poland, Hungary, source says
Jul 16, 2024 8:10 AM

BRUSSELS, July 16 (Reuters) - U.S. grains merchant Bunge

has offered to sell Glencore ( GLCNF )-backed Viterra's

crush and refining plants for oilseeds in Hungary and Poland in

order to secure EU antitrust approval for the $34 billion

merger, a person close to the deal said on Tuesday.

The companies, which announced the deal a year ago to better

compete with global giants Archer-Daniels-Midland ( ADM ) and

Cargill, submitted concessions to the EU competition

enforcer last week.

They offered to divest assets in two EU countries, other

sources told Reuters last week.

Viterra has 13 oilseed crushing plants among its more than

30 processing and refining facilities in 11 countries, according

to its website.

The European Commission, which is scheduled to decide on the

deal by Aug. 1, has sought feedback from farmers' groups,

clients and rivals before deciding whether to accept Bunge's

offer.

"We are confident that the commitments we have offered

address the areas of concern expressed by the Commission, which

are limited to specific markets," Bunge said.

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