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BAAR, Switzerland, Dec. 17, 2012 /CNW/ – Glencore International plc
(“Glencore”) and Viterra Inc. (“Viterra”) announced today that Glencore
has completed the acquisition of Viterra. The acquisition brings
Glencore immediate critical mass in the key grain markets of North
America through Viterra’s substantial Canadian operations. Viterra also
materially expands Glencore’s existing operations in Australia. The
acquisition reinforces Glencore’s position as one of the world’s
leading commodity suppliers.

Fran Malecha, formerly Chief Operating Officer of Viterra, has been
appointed Director, Agricultural Products, North America, with
responsibility for all North American operations. He will be based in
Regina, Saskatchewan which becomes headquarters for Glencore’s North
American Agricultural Products business. David Mattiske has been
appointed Country Manager, Agricultural Products, Australia and New
Zealand, with responsibility for all agricultural operations in
Australia and New Zealand.

Chris Mahoney, Director of Agricultural Products of Glencore, said, “By
combining Viterra’s first class assets, grain logistics and processing
insight with our global marketing capability, we have the opportunity
to become a true leader across the sector with even greater means to
meet the needs of farmers and customers globally.

“Glencore has acquired more than physical assets; we have gained the
world class skills and experience of Viterra employees and we are
already working well together to implement a smooth integration.
Furthermore, I am delighted to welcome Fran and David to their new
positions and I have every confidence that the businesses in North
America and Australia will thrive under their leadership.”

Fran Malecha, said, “Today marks the beginning of an exciting new
chapter for the company. I am excited to be staying on to lead
Glencore’s North American agricultural business, and look forward to
strengthening our relationships with farmers and creating opportunities
for all participants in the industry.”

David Mattiske, said, “Glencore values Viterra’s Australian and New
Zealand people and assets as a critical part of its global portfolio.
This transaction reflects Glencore’s strong belief in the importance
and potential of the Australian and New Zealand grain industries. The
combined business will provide additional opportunities for growers and
industry participants.”

Glencore anticipates all integration projects, including the divestment
of certain assets to Agrium Inc. and Richardson International Limited,
will be completed by the end of 2013. Until the time of divestiture,
Glencore will continue to support these assets.

Information for shareholders and CDI holders

Shareholders will be entitled to receive payment of C$16.25 per share in
cash (the “Consideration”) following the effective date of the
Arrangement. Shareholders will receive Canadian dollars unless an
election is made to receive payment in Australian dollars.

Registered shareholders are required to submit a Letter of Transmittal
to Computershare Trust Company of Canada, together with the
certificate(s) representing shares of Viterra and all other required
documents. For a replacement Letter of Transmittal, contact
Computershare Trust Company of Canada toll free at 1-877-477-1538.
Registered shareholders must make their currency elections in the
Letter of Transmittal by no later than 5:00 p.m. (Toronto Time)
December 18, 2012. Non-registered shareholders should contact their
broker, trustee, financial institution, custodian, nominee or other
intermediary to confirm matters relating to payment of the
Consideration, or if they wish to elect to receive Australian dollars.

Each CDI holder, as of 6:30 p.m. (Adelaide Time) on December 17, 2012 is
entitled to receive payment of C$16.25 (or the Australian dollar
equivalent) per CDI in cash. CDI holders are not required to submit a
Letter of Transmittal.

CDI holders were able to elect to receive payment in Canadian dollars.
If no election was made prior to 5:00 p.m. (Australian Central Standard
Time) today, holders of CDIs are deemed to have elected to receive
payment in Australian dollars.

Further to the Glencore press release of December 7, 2012, amendments to
Viterra’s 5.950% Senior Notes due 2020 have been implemented and
consent fee payments to consenting noteholders shall be made shortly.

About Glencore International plc
Glencore is one of the world’s leading integrated producers and
marketers of commodities, headquartered in Baar, Switzerland, and
listed on the London and Hong Kong Stock Exchanges. Glencore has
worldwide activities in the production, sourcing, processing, refining,
transporting, storage, financing and supply of Metals and Minerals,
Energy Products and Agricultural Products

SOURCE Glencore International plc