THE chief executive of Viterra, the Canadian agribusiness giant that swallowed ABB Grain last year, distanced the group from speculation that it might buy Elders or AWB's Landmark rural services businesses.
Viterra spent $1.6 billion on South Australia's ABB Grain in September last year, an acquisition that helped return the Canadian group to profitability in the first quarter, reports The Australian Financial Review.
Viterra has been viewed as a potential buyer of Landmark or its rival Elders. Either deal would allow Viterra to replicate its Canadian business, which incorporates a rural services division that ABB does not provide.
"We have had no active interest in any other businesses in rural services," Viterra CEO Mayo Schmidt said yesterday.
But Mr Schmidt said Viterra would be "very interested in adding a rural services component" as well as developing new processing businesses for its grains operation.
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