WHITE PLAINS, New York and
LONDON, February 22, 2012 /PRNewswire/ --
Bunge Limited (NYSE: BG) ("Bunge"), a leading global
agribusiness and food company, and Climate Change Capital Limited
("CCC"), a U.K.-regulated sustainable asset manager and advisor,
today announced that Bunge has agreed to acquire Climate Change
Capital Group Limited ("CCCG").
The transaction was approved by the U.K.'s Financial Services
Authority (FSA) on February 20, 2012,
and CCCG has obtained the required shareholder approvals to
proceed. The transaction is expected to close in the coming weeks;
financial terms will not be disclosed.
Daniel Rudolph, Managing
Director, Bunge Financial Services Group, said, "Bunge's Financial
Services Group has been active in carbon markets since their
inception, both as a buyer of carbon credits and an advisor to
other market participants. The transaction builds on this long-term
presence, combining two established players in sustainability
markets and advisory services to create an organization with deep
expertise and global reach. We also see strategic and
operational synergies resulting from the combined business,
including an enhanced ability to expand service offerings."
James Cameron, Vice Chairman,
CCC, said, "Bunge's Financial Services Group is well-placed to
support the best interests of existing investors and provide a
stable platform to develop new investment opportunities. As
the world's population grows, putting pressure on scarce resources,
there is a tremendous opportunity for companies like CCC and Bunge
to work to transform the way societies cultivate, manufacture,
distribute, consume and develop."
Fee income derived from CCC's advisory and asset management
businesses will be fully consolidated for reporting purposes.
Assets in CCC's underlying investment vehicles are owned by the
investors in the vehicles and are not subject to consolidation in
Bunge's financial statements.
About Bunge Limited
Bunge Limited (http://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.
About Climate Change Capital
Limited
CCC (http://www.climatechangecapital.com) manages investments in
companies, projects and technologies that provide products or
services facilitating climate change mitigation or
adaptation. Its asset management group has focused on four
asset classes: carbon finance, private equity, property and energy
infrastructure. CCC also provides financial, strategic and
policy advice to energy-intensive industries, financial
institutions, clean technology companies and governments. Climate
Change Capital Group Limited (CCCG) is the parent company of
Climate Change Capital Limited (CCC).
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.