WHITE PLAINS, N.Y., Nov. 1, 2011 /PRNewswire/ -- Bunge Agribusiness Singapore Pte. Ltd, a wholly owned subsidiary of Bunge Limited (NYSE: BG), today announced that it intends to form a joint venture with PT Bumiraya Investindo ("BRI"), the Indonesian palm plantation subsidiary of PT Tiga Pilar Sejahtera Food Tbk ("TPS Food").  This would be Bunge's first investment in the palm oil industry.

Under the terms of the agreement with TPS Food, Bunge Agribusiness Singapore Pte. Ltd would acquire a 35% minority stake in BRI.  The transaction is subject to approval by TPS Food shareholders and regulatory approvals in Indonesia.

Christopher White, CEO, Bunge Asia, stated, "Our investment in BRI represents a first step in building an upstream presence in palm oil.  It is a natural fit, through which we can leverage our core capabilities and experience in a complementary value chain that represents over 30% of the world's total vegetable oil production."

TPS Food, listed on the Indonesia Stock Exchange, is a leading food company in Indonesia. In the last two years the company entered palm production as well as rice processing and distribution.

BRI owns land banks in Sumatra and Kalimantan and operates four plantations in Kalimantan.  It is also constructing a crude palm oil mill in Kalimantan.  Preliminary satellite analysis shows that BRI's land banks do not contain primary forest.

About Bunge Asia

Bunge Asia, the Asia-Pacific operating arm of Bunge Limited (NYSE: BG), supplies agricultural commodities and products such as protein meals, vegetable oils, grains and sugar to customers in the livestock and food industries.  Bunge Asia also sells branded food products in China and India.  With headquarters in Singapore, Bunge Asia currently operates in China, India, Southeast Asia and Australia.

About Bunge Limited

Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries.  Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America.  Founded in 1818, the company is headquartered in White Plains, New York.

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, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; 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.

SOURCE Bunge Limited

Copyright 2011 PR Newswire

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