Fertilizer Markets and Finance
Jonathan Mohan
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This is scary…basically telling everyone that their retirement accounts are at risk to twitter posts.
The AP’s erroneous...
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Really great interactive map. Hover your mouse over nearly any country to view stats on ag production and needs. There’s...
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BP admits to 11 counts of manslaughter for 2010 oil spill disaster
November 15, 2012
Oil giant BP will fork over the...
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Before we get fully into election mode. Take a look at some of these stunning shots from the
- Mammals runner-up: Ole Jørgen Liodden, Norway....
WINNIPEG, Manitoba (Reuters) - Glencore International PLC said on Friday that Canada’s Competition Bureau will not stand in the way of its C$6.1-billion (3.79 billion pounds) takeover bid for topCanadian grain handler Viterra Inc .
The Competition Bureau decision removes one of two major regulatory obstacles to one of the biggest deals in years in the agricultural sector.
Swiss-based Glencore said in a press release that it received a letter on Thursday from the bureau, which operates independently of the government, saying it would not oppose the takeover.
The deal still needs the approval of the Canadian government because it is a foreign takeover. It must also be approved by Viterra shareholders.
Read more at Yahoo News
Oil and natural gas rich Qatar has upped its stake in Xstrata, currently negotiating a $90 billion merger with Glencore International, to just over 5%, making the country’s sovereign wealth fund the diversified miner’s third largest shareholder.
Swiss commodities giant Glencore already owns 34% of Xstrata. Glencore is offering 2.8 shares for every one of Xstrata, but aside from second largest shareholder BlackRock, other institutional investors have threatened to block the deal.
The Qatari investment should provide Glencore CEO Ivan Glasenberg the necessary backing he needs to push through the deal. Glasenberg and Xstrata CEO Mick Davis have embarked on a roadshow to sell the deal. 75% of shareholders must vote in favour of the deal.
Read more at Mining.com
Ameropa Holding AG, a privately held Swiss company, signed on Nov. 25 “several agreements” to buy a majority stake in Azomures SA (AZO), Romania’s largest publicly traded fertilizer maker, according to a filling to the Bucharest Stock Exchange.
The transaction is pending the approval of Romania’s competition regulator, Azomures said in the statement, without giving more details about the deal.
Ziarul Financiar reported on Nov. 1 that Ameropa may pay more than 100 million euros ($133 million) for the majority stake in Azomures, citing an analyst’s calculation.
To contact the reporter on this story: Andra Timu in Bucharest at atimu@bloomberg.net.
To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net
