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Bunge Ltd To Sell Brazilian Fertilizer Business To Yara International ASA; Announces Long Term Fertilizer Supply Agreement

Friday, 7 Dec 2012 02:00am EST 

Bunge Ltd announced that it has entered into a definitive agreement with Yara International ASA under which Yara will acquire Bunge's Brazilian fertilizer business, including blending facilities, brands and warehouses, for $750 million in cash. Bunge and Yara have also agreed to enter into a long-term fertilizer supply agreement, enabling Bunge to continue to supply fertilizer to farmers as part of grain origination activities and creating a framework for logistics and other commercial activities related to fertilizer sales. Bunge will retain and continue to operate fertilizer terminal in the Port of Santos, Brazil. The transaction, is expected to close in the second half of 2013. Credit Suisse acted as Bunge's financial advisor in the transaction. Bunge's legal advisors were Souza Cescon Barrieu & Flesch Advogados and Shearman & Sterling LLP. 

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1.54 +1.94%
16 Apr 2014