A huge wartime M&A deal: A new agricultural giant worth $30B will soon take shape.

The Antimonopoly Committee of Ukraine has approved the acquisition of control by Bunge Global SA over the global agro-trader Viterra Limited (part of Glencore). In Ukraine, these two companies (Viterra and Bunge) export grain and oilseeds, sunflower oil, and related storage and processing infrastructure. Last year, these two companies accounted for approximately 3% of total grain exports from Ukraine. In a merger, the combined structure’s share in Ukrainian agricultural exports could increase to 7%, which would be the second largest after Kernel and surpass Nibulon’s performance.

The two companies had been negotiating the merger’s details since the beginning of the year. American grain trader Bunge has a current value of about $14B and carries a net cash debt of about $2.7B, will pay for most of the deal with stock but will also use cash and bank financing. The combined company will be controlled by Bunge management. It is expected to become a giant in the agricultural trading market with a value of at least $30B.