1254 ET - The trade group representing Canadian grain farmers says it's "extremely disappointed" with Ottawa's decision to allow Bunge to acquire Viterra. Grain Growers of Canada says the takeover is likely to cost its 70,000 members about C$770 million a year in sales. Conditions imposed by the Canadian government to address competition concerns are "woefully inadequate," the group says, arguing Canada should have compelled Bunge to sell its 25% stake in G3 Global Holdings, which owns 20 grain elevators across Canada and terminal elevators at ports in British Columbia. Instead, Canada opted to impose strict conditions regarding Bunge's influence on the operations of G3, whose shareholders also include Saudi Arabia-owned agrifood company, Salic. (paul.vieira@wsj.com; @paulvieira)
(END) Dow Jones Newswires
January 15, 2025 12:55 ET (17:55 GMT)
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