Bunge set to buy Brazil's Moema mills for $896 mln

Bunge Ltd (BG.N) said it will pay $896 million in stock to Brazil's Moema Par, giving the U.S. agribusiness giant a 60 percent share of the holding company's 15.4 million tons crushing capacity.

As a part of the deal, Bunge will become the owner of Usina Moema Participacoes S.A. (Moema Par), which owns one sugarcane mill and has interest in five other mills in Brazil.

Under the deal, Moema shareholders will receive about 7.3 million shares of Bunge including a payment of about $36 million as working capital.

Read Full Article from Reuters

- Posted: 2009-12-24 08:26:03

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