Competition Bureau approves Richardson deal to buy Viterra assets from Glencore

WINNIPEG — Richardson International Ltd. said Thursday it has received the OK from the Competition Bureau for its deal to buy a group of former Viterra grain handling assets from Glencore International.The company said it was the final regulatory hurdle and it now expects to close the deal early next year.Richardson is paying $800-million for 19 grain elevators and the associated crop input centres as well as the Can-Oat Milling business and 21st Century Grain Processing.The deal also includes a 25% stake in the Cascadia Terminal in Vancouver and the Viterra terminal in Thunder Bay, Ont.Privately owned Richardson is a handler and seller of grains and oilseeds.Glencore acquired the assets as part of its $6.1-billion deal to buy Viterra that it closed on Monday.Under the deal, Glencore said it would sell part of the grain handling operations to Richardson and a majority of Viterra’s retail business to Agrium for for about US$575-million.CF Industries Holdings Inc. has signed a deal to buy Viterra’s minority interest in a nitrogen fertilizer plant in Medicine Hat, Alta., for US$915-million.The Canadian Press read more