Business & Policy
Richardson receives regulatory clearance from Competition Bureau
Dec. 27, 2012, Winnipeg, MB - Richardson International Limited has received confirmation from the Competition Bureau that it may proceed to close its transaction with Glencore.
Last March, Richardson announced that it had reached an agreement with Glencore to acquire in excess of $800 million worth of Viterra assets, including grain handling, crop input and processing assets and related working capital, following Glencore's successful acquisition of Viterra.
Richardson will be acquiring 19 country elevators and the crop input centres co-located with those elevators, which complement the Richardson Pioneer network of grain elevators and crop input centres across Western Canada. Richardson's agreement with Glencore also includes the purchase of a 25 percent ownership interest in Cascadia Terminal in Vancouver and the acquisition of a Viterra terminal in Thunder Bay. Richardson is also purchasing the Can-Oat Milling business with oat processing plants in Portage la Prairie, MB, Martensville, SK and Barrhead, AB, and 21st Century Grain Processing, which has an oat processing plant in South Sioux City, NE and a wheat mill in Dawn, TX.