WHITE PLAINS, N.Y., July 2 /PRNewswire-FirstCall/ -- Bunge Limited
(NYSE: BG) today announced an agreement to acquire the international sugar
trading and marketing division of Tate & Lyle PLC. The acquisition will
strengthen Bunge's position in the sugar value chain by expanding its
international trading and marketing activities and by creating a stronger
network for sugar origination in Brazil, Thailand and other geographies. The
completion of the transaction is subject to the receipt of certain regulatory
approvals and other customary conditions.
As a first stage, the operations and employees of Tate & Lyle's
international sugar trading business will transfer to Bunge. The working
capital in the business will remain with, and be collected and paid by, Tate &
Lyle through March 31, 2009, at which point it will be assumed by Bunge upon
final completion of the transaction.
'Bunge's strategy is to expand into complementary value chains, and sugar
is an essential one,' stated Archie Gwathmey, co-CEO, Bunge Global
Agribusiness. 'In the past two years we have established a sugar marketing
and trading operation and purchased a sugarcane mill in Brazil. Strengthening
our global team is a natural next step. Tate & Lyle has been one of the
world's leading international sugar traders with a long tradition in the
business and strong customer and supplier relationships. We are pleased to
welcome this team and business to Bunge.'
About Bunge
Bunge Limited (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 over 25,000 employees in over 30 countries enhance lives by improving
the global agribusiness and food production chain. The company supplies
fertilizer to farmers in South America, originates, transports and processes
oilseeds, grains and other agricultural commodities worldwide, 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,' 'expect,' 'anticipate,' 'believe,'
'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, as well as those of the markets we serve or intend to serve, 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: our ability to complete,
integrate and benefit from acquisitions, divestitures, joint ventures and
strategic alliances; estimated demand for the commodities and other products
that we sell and use in our business; industry conditions, including the
cyclicality of the agribusiness industry and unpredictability of the weather;
agricultural, economic and political conditions in the primary markets where
we operate; and other economic, business, competitive and/or regulatory
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.
SOURCE Bunge Limited
