|By PR Newswire||
|December 7, 2012 06:16 AM EST||
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION
BAAR, Switzerland, Dec. 7, 2012 /CNW/ - Glencore International plc ("Glencore") announced that on December 7, 2012 it received notice from the Ministry of Commerce of the People's Republic of China ("MOFCOM") that its acquisition of Viterra Inc. ("Viterra") has been approved.
This was the final outstanding regulatory approval of Glencore's acquisition of Viterra pursuant to a court approved plan of arrangement (the "Arrangement"). Glencore now expects the effective date of the Arrangement to be Monday, December 17, 2012, as a result of Viterra and Glencore having agreed to extend the date for completion of the Arrangement. On the effective date of the Arrangement, Glencore will release the funds to be subsequently paid out to shareholders and holders of Viterra's CHESS Depositary Interests (CDIs). The necessary arrangements will also be made to delist Viterra from the Toronto Stock Exchange and the Australian Securities Exchange.
Further to Glencore's July 20, 2012 press release, it confirms that upon closing of the Arrangement the amendments to Viterra's 5.950% Senior Notes due 2020 shall be implemented and consent fee payments to consenting noteholders made shortly thereafter.
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.
Cautionary Statement on Forward-Looking Information
Certain information in this press release is "forward-looking information" and is prospective in nature. Forward-looking information is not based on historical facts, but rather on current expectations and projections about future events, and is therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward-looking information. This information generally can be identified by the use of forward-looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations.
Forward-looking information is also necessarily based upon a number of assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Glencore cautions the reader that such forward-looking information involves known and unknown risks, uncertainties and other factors that could cause actual results, performance or achievements of Glencore to differ materially from any future results, performance or achievements expressed or implied by such forward-looking information. Many of these risks and uncertainties relate to factors that are beyond Glencore's ability to control or estimate precisely, such as future market conditions, changes in the regulatory environment and the behaviour of other market participants. Glencore cannot give any assurance that such forward-looking information will prove to have been correct.
Although Glencore has no knowledge that would indicate that any statements contained herein concerning the other or any other parties are untrue or incomplete, Glencore, nor any of its affiliates or associates, nor any of its directors or officers, assumes any responsibility for the accuracy or completeness of such information or for any failure of any other parties to disclose events or facts which may have occurred or which may affect the significance or accuracy of any such information but which are unknown to Glencore. The reader is cautioned not to place undue reliance on this forward-looking information, which speaks only as of the date of this press release.
Glencore disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, further events or otherwise, except as required by applicable law.
SOURCE Glencore International plc
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