ST. LOUIS, Nov. 17, 2017 /PRNewswire/
-- Bunge North America
("Bunge"), the North American operating arm of Bunge Limited
(NYSE: BG), announced today that Bunge and Grupo Minsa
S.A.B. de C.V. ("Minsa") have mutually decided to terminate the
share subscription agreement which would have given Bunge a
controlling financial interest in Minsa.
Transaction discussions were previously suspended because of
delays in obtaining authorizations needed to close. During
this time, a change in Minsa's business model in Mexico led the two companies to agree to
cancel the transaction.
"We remain committed to strengthening our Food and Ingredients
segment by expanding our value-added food products lines," said
Todd Bastean, CEO, Bunge North America. "We will continue to look
for investment opportunities that position Bunge for growth by
enabling us to deliver a high quality, reliable supply of food
ingredients to our customers around the globe."
The two companies have agreed to terminate all obligations under
the subscription agreement and release each other from all
associated liabilities.
About Bunge North
America
Bunge North
America (www.bungenorthamerica.com), the North American
operating arm of Bunge Limited (NYSE: BG), is a vertically
integrated food and feed ingredient company, supplying raw and
processed agricultural commodities and specialized food ingredients
to a wide range of customers in the animal feed, food processor,
foodservice and bakery industries. With headquarters in
St. Louis, Missouri, Bunge North America and its subsidiaries operate
grain elevators, oilseed processing plants, edible oil refineries
and packaging facilities, and corn, wheat and rice mills in the
U.S., Canada and Mexico.
About Bunge Limited
Bunge Limited (www.bunge.com,
NYSE: BG) is a leading global agribusiness and food company
operating in over 40 countries with approximately 32,000 employees.
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, corn and rice to make ingredients used by food companies;
and sells fertilizer in 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.
View original
content:http://www.prnewswire.com/news-releases/bunge-and-grupo-minsa-agree-to-terminate-agreement-300558967.html
SOURCE Bunge North America