Bunge Invests In Brazilian Sugar

US agribusiness company Bunge has signed a deal to acquire Brazilian sugar-cane processor Moema Participacoes. Moema shareholders will receive 7.3mn shares in Bunge, worth US$452 each, while Bunge will assume about US$480mn of debt. Moema is a holding company that owns one sugar mill and has an interest in five others. Bunge's acquisition will give it control of a 60% effective share of the six mills, which amounts to capacity of 9.3mn tonnes. However, the firm also said it may enter into agreements to secure the remaining interest in the mills, known as the Moema Group, during the coming weeks.

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