Viterra Closes Subscription Receipt Offering



    
    /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
    U.S./

    Listed: TSX: VT
    

    CALGARY, May 13 /CNW/ - Viterra Inc. ("Viterra") announced today that the
$450,000,000 subscription receipt offering, announced on April 29, 2009 (the
"Offering") has closed successfully. The transaction was underwritten by a
syndicate let by TD Securities Inc. and Genuity Capital Markets, and that also
included Macquarie Capital Markets Canada Ltd., Scotia Capital Inc., HSBC
Securities (Canada) Inc., J.P. Morgan Securities Canada Inc., National Bank
Financial Inc. and RBC Dominion Securities Inc. (the "Underwriters").
    The Offering will provide a portion of the funding that may be required
should Viterra's proposed acquisition of shares of ABB Grain Ltd., via an
Australian scheme of arrangement be completed.
    Under the public offering, 56,250,000 subscription receipts of Viterra
have been issued and sold for gross proceeds to Viterra of $450,000,000. Each
subscription receipt entitles the holder to receive, for no additional
consideration, one common share of Viterra upon the initial take-up by Viterra
before November, 30, 2009 of all of the outstanding common shares of ABB Grain
Ltd.
    The subscription receipts and resulting Common Shares will be subject to
an aggregate hold period in Canada of four months after the Closing Date and
will not be freely tradable by holders during that time.
    In the event a definitive agreement is not entered into with ABB and
publicly announced by June 30, 2009, acquisition closing does not occur before
November 30, 2009, or the acquisition is terminated at an earlier time,
holders of the subscription receipts will receive a refund of the full
purchase price of the subscription receipt, together with their pro rata share
of interest earned thereon between the Closing Date and the Termination Date
(less applicable withholding tax, if any).

    For U.S. Shareholders

    The securities offered hereby have not and will not be registered under
the United States Securities Act of 1933, as amended (the "1933 Act") and may
not be offered or sold in the United States or to U.S. persons (as defined in
Regulation S under the 1933 Act) unless the securities have been registered
under the 1933 Act, or are otherwise exempt from such registration.

    Forward-Looking Information

    This release contains forward looking statements that involve certain
risks and uncertainties which could cause actual results to differ materially
from future results expressed or implied by such statements. Important factors
that could affect these statements include, without limitation, weather
conditions; producer's decisions regarding total planted acreage, crop
selection, and utilization levels of farm inputs such as fertilizers and
pesticides; Canadian grain export levels; changes in government policy and
transportation deregulation; world agricultural commodity prices and markets;
changes in competitive forces including pricing pressures; and global
political and economic conditions, including grain subsidy actions of the
United States and European Union.

    Viterra Inc. is Canada's leading agribusiness, with extensive operations
and distribution capabilities across Western Canada, and with operations in
the United States, Japan, Singapore and Geneva. The Company is diversified
into sales and services of crop inputs and equipment, grain handling and
marketing, livestock feed, agri-food processing and financial products. These
operations are complemented by value-added businesses and strategic alliances,
which allow Viterra to leverage its pivotal position between Prairie farmers
and destination customers. The Company's common shares are listed on the
Toronto Stock Exchange under the symbol VT.

    %SEDAR: 00001809E




For further information:

For further information: Shareholder Contact: Colleen Vancha, Viterra
Inc., (306) 569-4782, http://www.viterra.ca

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VITERRA LTD.

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