Viterra shuts Calgary office

Head office to remain in Regina

Glencore International’s takeover of Viterra Inc. will mean the eventual closure of Viterra’s downtown Calgary office, a Viterra spokesperson has confirmed.

Last week, a $6.1 billion takeover of Canadian international grain handler Viterra by Swiss commodity trader Glencore International was approved by the Chinese government, the final regulatory step required for the acquisition deal to go ahead. The deal is expected to close Dec. 17.

In March, when the two companies announced the acquisition agreement, a joint statement said the deal would include making Regina the head of Glencore International’s North American Agriculture business.

Regina is currently the site of Viterra’s registered head office, however, the majority of the company’s executive team — as well as more than 100 head office management positions — are based in Calgary.

“Following the completion of the acquisition, Glencore will consoli- date Viterra’s executive offices in Saskatchewan and make the Regina head office the platform for its North American agricultural operations and for expansion into the United States,” the statement said.

Viterra spokesperson Holly Gibney confirmed that is still the plan, now that the acquisition deal has received the green light.

“As a result, the Calgary office will eventually close,” Gibney said in an e-mailed statement.

The timeline for the closure, and what it means for the people working out of the Calgary office, has not been disclosed.

Viterra shareholders — along with the Canadian government — approved the takeover earlier in the year.

The company’s largest shareholder is an Alberta crown corporation, the Alberta Investment Management Corporation.

Viterra was known as the Saskatchewan Wheat Pool until 2007, when it acquired Agricore United. The Saskatchewan government has been a vocal proponent of preserving or enhancing Viterra’s head office in Regina, urging the federal government to ensure the prairie city would be established as Glencore’s North American headquarters before approving the deal.

Viterra’s Regina office has more than 400 employees.