Glencore PLC, which created a bit of a sensation when it
bought Viterra, the new name for the Saskatchewan and Manitoba Wheat Pools,
says the British Columbia Investment Management Corp. is buying a 10 per cent
share of its agriculture division.
It joins the Canada Pension Plan which earlier this year
bought 40 per cent of the agriculture division which includes Viterra and a
number of other grain-trading operations around the world.
B.C. Investment Management is paying $624.9 million US cash;
the Canada Pension Plan paid $2.5 billion.
Glencore’s main business is mining on a global scale. Its
home base is in Switzerland.
