Glencore Receives Final Regulatory Approval For Acquisition of Viterra

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.

11 Dec 2012 --- Glencore International announced that on December 7, 2012 it received notice from the Ministry of Commerce of the People’s Republic of China that its acquisition of Viterra Inc. has been approved.

This was the final outstanding regulatory approval of Glencore’s acquisition of Viterra pursuant to a court approved plan of 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.