Viterra Gets Australia OK For ABB Deal

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Australia has given foreign-investment approval for Canadian grain handler Viterra’s $1.2 billion proposed takeover of ABB Grain Ltd, the Australian grain-handler and exporter said on June 25.

“ABB Grain and Viterra have been informed that the Foreign Investment Review Board has advised Viterra that there are no objections to the proposed scheme of arrangement with Viterra,” ABB said in a statement to the Australian stock market.

The deal still needs other regulatory, shareholder and court approvals, the statement added.

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