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Canada's Viterra gets Australia ok for ABB deal

Wed Jun 24, 2009 7:35pm EDT

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SYDNEY, June 25 (Reuters) - Australia has given foreign-investment approval for Canadian grain handler Viterra's (VT.TO) $1.2 billion proposed takeover of ABB Grain Ltd ABB.AX, the Australian grain-handler and exporter said on Thursday.

"ABB Grain and Viterra have been informed that the Foreign Investment Review Board has advised Viterra that there are no objections to the proposed scheme of arrangement with Viterra," ABB said in a statement to the Australian stock market.

The deal still needs other regulatory, shareholder and court approvals, the statement added.

(Reporting by Mark Bendeich)

((mark.bendeich@thomsonreuters.com; +612 93731817; mark.bendeich.reuters.com@reuters.net))

(If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) Keywords: ABB VITERRA/

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