TIDMGLEN
RNS Number : 6799T
Glencore International PLC
17 December 2012
BAAR,Switzerland Calgary,Alberta
17(th) December 2012
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
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Glencore completes acquisition of Viterra and announces key
management appointments
Glencore International plc ("Glencore") and Viterra Inc.
("Viterra") announced today that Glencore has completed the
acquisition of Viterra. The acquisition brings Glencore immediate
critical mass in the key grain markets of North America through
Viterra's substantial Canadian operations. Viterra also materially
expands Glencore's existing operations in Australia. The
acquisition reinforces Glencore's position as one of the world's
leading commodity suppliers.
Fran Malecha, formerly Chief Operating Officer of Viterra, has
been appointed Director, Agricultural Products, North America, with
responsibility for all North American operations. He will be based
in Regina, Saskatchewan which becomes headquarters for Glencore's
North American Agricultural Products business. David Mattiske has
been appointed Country Manager, Agricultural Products, Australia
and New Zealand, with responsibility for all agricultural
operations in Australia and New Zealand.
Chris Mahoney, Director of Agricultural Products of Glencore,
said, "By combining Viterra's first class assets, grain logistics
and processing insight with our global marketing capability, we
have the opportunity to become a true leader across the sector with
even greater means to meet the needs of farmers and customers
globally.
"Glencore has acquired more than physical assets; we have gained
the world class skills and experience of Viterra employees and we
are already working well together to implement a smooth
integration. Furthermore, I am delighted to welcome Fran and David
to their new positions and I have every confidence that the
businesses in North America and Australia will thrive under their
leadership."
Fran Malecha, said, "Today marks the beginning of an exciting
new chapter for the company. I am excited to be staying on to lead
Glencore's North American agricultural business, and look forward
to strengthening our relationships with farmers and creating
opportunities for all participants in the industry."
David Mattiske, said, "Glencore values Viterra's Australian and
New Zealand people and assets as a critical part of its global
portfolio. This transaction reflects Glencore's strong belief in
the importance and potential of the Australian and New Zealand
grain industries. The combined business will provide additional
opportunities for growers and industry participants."
Glencore anticipates all integration projects, including the
divestment of certain assets to Agrium Inc. and Richardson
International Limited, will be completed by the end of 2013. Until
the time of divestiture, Glencore will continue to support these
assets.
Information for shareholders and CDI holders
Shareholders will be entitled to receive payment of C$16.25 per
share in cash (the "Consideration") following the effective date of
the Arrangement. Shareholders will receive Canadian dollars unless
an election is made to receive payment in Australian dollars.
Registered shareholders are required to submit a Letter of
Transmittal to Computershare Trust Company of Canada, together with
the certificate(s) representing shares of Viterra and all other
required documents. For a replacement Letter of Transmittal,
contact Computershare Trust Company of Canada toll free at
1-877-477-1538. Registered shareholders must make their currency
elections in the Letter of Transmittal by no later than 5:00 p.m.
(Toronto Time) December 18, 2012. Non-registered shareholders
should contact their broker, trustee, financial institution,
custodian, nominee or other intermediary to confirm matters
relating to payment of the Consideration, or if they wish to elect
to receive Australian dollars.
Each CDI holder, as of 6:30 p.m. (Adelaide Time) on December 17,
2012 is entitled to receive payment of C$16.25 (or the Australian
dollar equivalent) per CDI in cash. CDI holders are not required to
submit a Letter of Transmittal.
CDI holders were able to elect to receive payment in Canadian
dollars. If no election was made prior to 5:00 p.m. (Australian
Central Standard Time) today, holders of CDIs are deemed to have
elected to receive payment in Australian dollars.
Further to the Glencore press release of December 7, 2012,
amendments to Viterra's 5.950% Senior Notes due 2020 have been
implemented and consent fee payments to consenting noteholders
shall be made shortly.
For enquiries about Glencore, please contact:
Paul Smith (Investors) Charles Watenphul (Media) RLM Finsbury (Media)
t: +41 (0)41 709 2487 t: +41 (0)41 709 2462 Guy Lamming
m: +41 (0)79 947 1348 m:+41 (0)79 904 3320 Dorothy Burwell
e: paul.smith@glencore.com e:charles.watenphul@glencore.com T: +44 (0)20 7251
3801
Elisa Morniroli (Investors) Holly Gibney (Media) Jane McBride (Investors)
t: +41 (0)41 709 2818 t: +1 403 817 1088 t: +61 (0)8 8304 1368
m: +41 (0)79 833 0508 m:+1 403 605 7566 m: +61 (0)448 910 886
e:elisa.morniroli@glencore.com e:holly.gibney@viterra.com e: jane.mcbride@viterra.com
About Glencore International plc
Glencore is one of the world's leading integrated producers and
marketers of commodities, headquartered in Baar, Switzerland, and
listed on the London and Hong Kong Stock Exchanges.
Glencore has worldwide activities in the production, sourcing,
processing, refining, transporting,
storage, financing and supply of Metals and Minerals, Energy
Products and Agricultural Products
This information is provided by RNS
The company news service from the London Stock Exchange
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