OMAHA (DTN) -- Bunge Global SA confirmed Friday the company had received approval for its merger with Viterra Limited from the China State Administration for Market Regulation. The announcement will allow the two-year-old acquisition of Viterra Limited by Bunge to close on or around July 2.

"Achieving this regulatory milestone is a significant step forward and clears the way for closing of the transaction," said Greg Heckman, Bunge's CEO. "This approval underscores the strategic rationale behind bringing Bunge and Viterra together to create a premier global agribusiness company. As one team, we will accelerate our shared vision for growth and fulfill our purpose to connect farmers to consumers to deliver essential food, feed, and fuel to the world."

The Chinese government's approval comes exactly two years after Bunge Global SA and Viterra announced their merger. Bunge and Viterra Limited combined for nearly $115 billion in revenue in 2023 globally and more than $5 billion in earnings. Bunge's revenue in 2024 dipped but was $53 billion. Viterra did not release a 2024 income report.

Bunge, with its operational headquarters in St. Louis, Missouri, operates in more than 40 countries and employs more than 23,000 people in grain commodities, milling, oilseed-crushing and bioenergy businesses.

Viterra, based in Regina, Saskatchewan, was founded through a merger of two companies in Saskatchewan. It was then acquired by Glencore in 2013 and rebranded as Viterra. Gavilon then bought Viterra before the merger announcement with Bunge in June 2023.

Viterra operates in 38 countries and has 65 grain elevator licenses in western Canadian provinces. Viterra also operates or holds interest in ports in British Columbia, Ontario and Quebec.

Going into the merger, Bunge also owned grain storage and processing assets including more oilseed crush facilities than any other grain company in Canada.

The Canadian government announced its approval of Bunge's acquisition of Viterra in January after the government had issued a report last year raising concerns about the loss of competition in grain and oilseed sectors because both companies are heavily invested in Canada. The Canadian government raised concerns particularly over canola markets because Bunge and Viterra already combined make up the two largest buyers of Canadian canola.

Canada's approval required Bunge to divest six grain elevators in western Canada and set up a price protection program for certain canola oil buyers in Canada. Canada also required the companies to retain Viterra's office in Regina for at least five years, a commitment from Bunge to invest at least $520 million in Canada and controls over Bunge's minority ownership in another grain company, G3.

The U.S., European Union and Mexican governments also have all signed off on the deal.

Bunge Global's stock responded positively to China's announcement. The Wall Street Journal listed Bunge's stock Friday afternoon as bumping up over $4 a share to $81.20, a 5.4% gain in Friday trades.

Chris Clayton can be reached at Chris.Clayton@dtn.com

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