OTTAWA, Jan 14 (Reuters) - The Canadian government said on Tuesday it approved with conditions the $34 billion merger deal between Bunge BG.N and the Glencore-backed company Viterra.

Bunge shares slumped 6.7% on the news.

The conditions for the deal approval include Bunge's divestiture of six grain elevators in Western Canada and a binding commitment from Bunge to invest at least C$520 million in Canada within the next five years, according to a statement from the transport ministry.

"This decision underscores the importance of promoting economic growth in Canada, while maintaining robust oversight to protect competition and the public interest," Transport and Internal Trade Minister Anita Anand said in the statement.