Oct 5 Reuters Shareholders of global grains merchant and oilseeds processor Bunge approved the company39;s acquisition of Glencorebacked Viterra during a shareholder meeting on Thursday, Bunge said in a statement.

The merger, which will create a company worth 34 billion including debt, is expected to be finalized in mid2024 after closing conditions are met and regulators have signed off on the deal, Bunge said.

The shareholders39; approval brings Bunge closer to wrapping up the deal that is unprecedented in size in the global agricultural sector and will create an agribusiness giant nearer in global scale to rivals ArcherDanielsMidland and Cargill CARG.UL.

We appreciate our shareholders39; vote of confidence in our strategy … Our team is focused on effectively running our operations while also planning for a successful integration, Bunge CEO Greg Heckman said in statement.

Bunge shareholders on Thursday also approved the issuance of 65,611,831 common shares and a move of Bunge39;s incorporation to Switzerland from Bermuda.

Bunge39;s Viterra acquisition would make the world39;s largest oilseed processor more dominant as it aims to capitalize on soaring demand for vegetable oils to produce biofuels.

The buyout is being closely scrutinized by regulators concerned about how consolidation would impact the agriculture sector. Canada39;s minister of transport said last week the Canadian government is reviewing the deal.

Reporting by Karl Plume in Chicago; Editing by…