Bunge Limited Completes Closings of Moema Transaction
February 11 2010 - 6:12PM
PR Newswire (US)
WHITE PLAINS, N.Y., Feb. 11 /PRNewswire-FirstCall/ -- Bunge Limited
("Bunge") (NYSE:BG) today announced that it has completed the
remaining closings of the Moema transaction. Bunge now owns 100% of
five of the mills comprising the Moema Group (Moema, Frutal,
Ouroeste, Guariroba and Itapagipe), with a total annual sugarcane
milling capacity of 13.7 million metric tons. As previously
announced, Bunge will not assume any ownership interest in the
sixth mill, Vertente. In total, Bunge has issued 9,718,632 common
shares in relation to the Moema transaction, representing, together
with the cash payments made at closing to certain minority
shareholders for their interests, approximately 90% of the base
purchase price for the transaction. The final number of shares to
be issued to the sellers is subject to post-closing adjustments
based upon the net debt and working capital of the mills as of the
closings. Bunge has agreed to file a registration statement for the
common shares of Bunge Limited issued in these transactions which
will allow the shareholders receiving these shares to resell them
from time to time. In addition, these shareholders have agreed,
during the 18-month period after the closing, to certain volume and
other restrictions with respect to sales of their common shares.
About Bunge Limited Bunge Limited (http://www.bunge.com/, NYSE: BG)
is a leading global agribusiness and food company founded in 1818
and headquartered in White Plains, New York. Bunge's 25,000
employees in over 30 countries enhance lives by improving the
global agribusiness and food production chain. The company supplies
fertilizer to farmers; originates, transports and processes
oilseeds, grains and other agricultural commodities; produces food
products for commercial customers and consumers; and supplies raw
materials and services to the biofuels industry. Cautionary
Statement Concerning Forward-Looking Statements This press release
contains both historical and forward-looking statements. All
statements, other than statements of historical fact are, or may be
deemed to be, forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are not based on historical facts, but
rather reflect our current expectations and projections about our
future results, performance, prospects and opportunities. We have
tried to identify these forward-looking statements by using words
including "may," "will," "should," "could," "expect," "anticipate,"
"believe," "plan," "intend," "estimate," "continue" and similar
expressions. These forward-looking statements are subject to a
number of risks, uncertainties and other factors that could cause
our actual results, performance, prospects or opportunities to
differ materially from those expressed in, or implied by, these
forward-looking statements. The following important factors, among
others, could affect our business and financial performance:
industry conditions, including fluctuations in supply, demand and
prices for agricultural commodities and other raw materials and
products used in our business, fluctuations in energy and freight
costs and competitive developments in our industries; the effects
of weather conditions and the outbreak of crop and animal disease
on our business; global and regional agricultural, economic,
financial and commodities market, political, social and health
conditions; the outcome of pending regulatory and legal
proceedings; our ability to complete, integrate and benefit from
acquisitions, including the transactions discussed herein,
dispositions, joint ventures and strategic alliances; changes in
government policies, laws and regulations affecting our business,
including agricultural and trade policies, tax regulations and
biofuels legislation; and other factors affecting our business
generally. The forward-looking statements included in this release
are made only as of the date of this release, and except as
otherwise required by federal securities law, we do not have any
obligation to publicly update or revise any forward-looking
statements to reflect subsequent events or circumstances.
DATASOURCE: Bunge Limited CONTACT: Investor Contact, Mark Haden,
+1-914-684-3398, , or Media Contact, Susan Burns, +1-914-684-3246,
, both of Bunge Limited Web Site: http://www.bunge.com/
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