Viterra, Glencore deal awaits Chinese approval
2012-09-28 10:03:26
Viterra said on Sept. 26 that the sole remaining regulatory approval for the previously announced acquisition by Glencore International is from the the Ministry of Commerce of the People's Republic of China (MOFCOM) under the Chinese Anti-Monopoly Law.
Glencore and Viterra continue to engage with MOFCOM to ensure approval as soon as possible. In order to accommodate MOFCOM's review process, Viterra and Glencore have extended the outside date for completion of the acquisition by one month to Nov. 15.
MOFCOM is expected to provide its approval within this timeframe. Viterra and Glencore will advise the market once MOFCOM approval has been received of the subsequent closing date on which the acquisition will occur.