WHITE PLAINS, N.Y. — Bunge Ltd., which last month agreed to acquire 100% of the remaining outstanding shares in Usina Moema Participacoes S.A., on Jan. 12 reached agreements to become the owner of additional interests in the Moema Group cluster of sugarcane mills in Brazil. Usina Moema has six mills with a combined annual crushing capacity of 15.4 million tonnes, and with the latest acquisition Bunge now will have an 89% share of those mills.
Under terms of the agreement, Bunge will issue approximately 3.5 million common shares in exchange for the additional interests, bringing the total number of shares to be issued by Bunge in the transactions to approximately 10.8 million and total net debt assumed to approximately $675 million.
Bunge said it still is considering acquiring the outstanding interests in the sixth mill in the Moema Group cluster.
The transactions are expected to close within the next 90 days, Bunge said.