New York Ag Connection - Bunge and Grupo Minsa Agree to Terminate Agreement

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Bunge and Grupo Minsa Agree to Terminate Agreement
New York Ag Connection - 11/20/2017

Bunge North America, the North American operating arm of Bunge Limited, announced 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.

Bunge North America 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, Mo., 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.

Bunge Limited 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, N.Y.

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