On May 11, 2012, the Saskatchewan Government published a review report on the proposed Glencore/Viterra transaction. In issuing the report, Saskatchewan’s Agriculture Minister called for conditions to “hold Glencore” to its Investment Canada Act commitments and also indicated that one competition concern included competitive effects relating to Agrium and the farm inputs (i.e., retail) markets.
Saskatchewan is calling for the following, among other things, as part of Investment Canada Act approval: Regina as Glencore’s North American headquarters, maintaining current levels of employment, a five year increase in capital investment of C $100 million and no adverse competitive effects in the farm input (i.e., retail) markets (competition is one of the relevant net benefit to Canada factors under section 20 of the Investment Canada Act).
For the Saskatchewan Government’s news release and report see:
Review of the Proposed Glencore Acquisition of Viterra and Related Transactions
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