Viterra buys Canada oilseed plant from Malaysia's Felda

Thu Aug 27, 2015 9:48am EDT
 
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WINNIPEG, Manitoba Aug 27 (Reuters) - Viterra Inc , the agriculture segment of Glencore PLC, said on Thursday that it agreed to buy Eastern Canada's largest oilseed processing plant from Malaysia's Felda Global Ventures Holdings Bhd.

Felda, the world's third-largest palm plantation operator, said it would sell the TRT-ETGO plant at Bécanour, Quebec to Viterra for C$190 million ($143.43 million).

The sale, expected to close this year, is part of Felda's plan to boost revenues and cut costs and become one of the world's biggest agribusiness companies, it said in a statement.

The plant can crush 1.05 million tonnes of canola and soybeans annually, producing vegetable oil for food and industrial markets and meal for livestock feed.

Viterra already operates a canola crushing plant in Western Canada, at Ste. Agathe, Manitoba. ($1 = 1.3247 Canadian dollars) (Reporting by Rod Nickel in Winnipeg, Manitoba; Editing by Meredith Mazzilli)