WHITE PLAINS, N.Y., Feb. 5 /PRNewswire-FirstCall/ -- Bunge Limited ("Bunge") today announced that it has completed the acquisition of certain interests in the Moema Group cluster of sugarcane mills in Brazil. Following the closing announced today, Bunge now owns 100% of three of the mills (Moema, Frutal and Ouroeste), 70% of a fourth mill (Guariroba) and approximately 44% of a fifth mill (Itapagipe). Bunge issued approximately nine million common shares at closing. The final number of shares to be issued to the sellers is subject to a post-closing adjustment based upon the net debt and working capital of the mills as of the closing.
Bunge expects to complete the acquisition of the remaining interests in the Guariroba and Itapagipe mills in the coming days. Additional shares will be issued in conjunction with these closings. Upon completion of these transactions, Bunge will own 100% of five of the Moema Group mills, with a total sugarcane milling capacity of 13.7 million metric tons. Bunge will not assume any ownership interest in the Vertente mill.
As previously announced, Bunge has agreed to file a registration statement for the common shares of Bunge Limited issued in these transactions which will allow the shareholders receiving these shares to resell them from time to time. In addition, these shareholders have agreed, during the 18-month period after the closing, to certain volume and other restrictions with respect to sales of their common shares.
About Bunge Limited
Bunge Limited (http://www.bunge.com/, NYSE: BG) is a leading global agribusiness and food company founded in 1818 and headquartered in White Plains, New York. Bunge's 25,000 employees in over 30 countries enhance lives by improving the global agribusiness and food production chain. The company supplies fertilizer to farmers; originates, transports and processes oilseeds, grains and other agricultural commodities; produces food products for commercial customers and consumers; and supplies raw materials and services to the biofuels industry.
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, including the transactions discussed herein, dispositions, joint ventures and strategic alliances; 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.
Bunge Limited
CONTACT: Investor Contact: Mark Haden, Bunge Limited, +1-914-684-3398,
Mark.Haden@Bunge.com or Media Contact: Susan Burns, Bunge Limited,
+1-914-684-3246, Susan.Burns@Bunge.com
Web Site: http://www.bunge.com/
