Bunge merges with Viterra in US$34 billion global agribusiness deal

13 Jun 2023

Bunge Limited (NYSE: BG) completed its merger with Viterra Limited on July 2, 2025, in a transaction valued at approximately US$18 billion (C$23.7 billion), including US$8.2 billion (C$10.8 billion) in equity and US$9.8 billion (C$12.9 billion) in assumed debt. Viterra shareholders received 65.6 million Bunge shares worth US$6.2 billion (C$8.2 billion) and US$2 billion (C$2.7 billion) in cash, resulting in a 30% stake in the combined entity, increasing to 33% following a planned US$2 billion share repurchase. The merged company operates as Bunge, headquartered in St. Louis, Missouri, with Greg Heckman as CEO and Viterra’s CEO David Mattiske joining as Co-Chief Operating Officer. The deal, uniting two global agribusiness leaders, is expected to yield US$250 million in annual pre-tax synergies within three years. Final regulatory clearance came from China’s State Administration for Market Regulation, following earlier approvals from Canada, the EU, and others. To satisfy Canadian conditions, Bunge agreed to divest six grain elevators in Western Canada, invest at least C$520 million over five years, and take steps to avoid influencing G3 Canada’s operations.

Latham & Watkins LLP, Freshfields, and Hogan Lovells acted as legal counsel to Bunge, with BofA Securities as financial advisor. McMillan LLP advised on Canadian competition matters with a team including Neil Campbell, Joshua Chad, Bill Wu, Hannah Johnson, Phil Kariam, Conner Wylie, and Mishail Adeel. Torys LLP acted for Viterra and its shareholders, led by Omar Wakil, with Rebecca Wagner, Eric Patenaude, and Ian Li.