Viterra Inc.: acquires Australian ABB Grain

Calgary / CA. (vi) Canadian agribusiness Viterra Inc. declared the completion of its acquisition of all issued and outstanding shares of ABB Grain Limited (Adelaide, Australia) through the official implementation of a Scheme of Arrangement. Under the Scheme, Viterra and its wholly owned subsidiary Viterra Australia Pty Ltd. have paid ABB an aggregate of 751,69 million AUD in cash and issued 78’296’645 new shares of Viterra. All ordinary shares of ABB have been delivered and registered in the name of Viterra Australia in exchange for the scheme consideration. In addition a fully franked special dividend of 0,41 AUD per ABB share has been paid to ABB shareholders. In conjunction, Viterra declared that 56’250’000 subscription receipts issued by private placement in mid-May 2009 at 8,00 CAD per receipt have been exchanged into common shares of Viterra on the basis of one common share per receipt (Details see «Viterra Completes Acquisition of ABB Grain» / press release).

Viterra appoints four new Directors

Viterra Inc. is pleased to confirm that four former Directors of ABB Grain Limited have joined Viterra´s Board of Directors. This satisfies a commitment Viterra made to ABB in the merger implementation agreement the two companies signed in mid-May 2009, when they agreed Viterra would acquire ABB. The additions, which include two Australian growers, will expand the perspective of the Viterra Board, ensuring that it has the benefit of Australian experience in the development of the Company´s future global direction. Its corporate governance model will be enhanced with the addition of a Deputy Chairman position, one of the ABB nominees (Details see «Viterra Appoints Four New Directors» / press release).

bakenet:eu
Back to top