ST. LOUIS, Nov. 3, 2020 /PRNewswire/ -- Bunge Limited
(NYSE:BG) announced today that its Bunge Loders Croklaan JV has
entered into an agreement to sell its refinery located in
Rotterdam to Neste Corporation
(NESTE.HE) for €258 million in cash, excluding working capital.
Bunge will lease back the facility from Neste in a phased
transition through 2024 so that it can continue to supply its
customers with its products. The transaction is expected to close
in the first quarter of 2021, subject to regulatory approvals.
With a portion of the proceeds from this transaction, Bunge will
reinvest in its asset footprint to reach greater operational
flexibility and efficiency and provide an enhanced portfolio of
multi-oil refined products to its customers. "This transaction
supports our long-term strategy in value-added oils and
oilseeds-based ingredients by enabling us to further enhance our
footprint in an innovative and sustainable way," said Greg Heckman, Bunge's Chief Executive
Officer.
About Bunge
Bunge (www.bunge.com, NYSE: BG) is a world
leader in sourcing, processing and supplying oilseed and grain
products and ingredients. Founded in 1818, Bunge's expansive
network feeds and fuels a growing world, creating sustainable
products and opportunities for more than 70,000 farmers and the
consumers they serve across the globe. The company is headquartered
in St. Louis, Missouri and has almost 25,000 employees
worldwide who stand behind more than 350 port terminals, oilseed
processing plants, grain facilities, and food and ingredient
production and packaging facilities around the world.
About Bunge Loders Croklaan
Bunge Loders Croklaan
(www.bungeloders.com) is a leading global producer and supplier of
sustainable plant-based specialty oils and fats for the food
manufacturing industry. It operates as the global B2B edible oils
business of Bunge Limited (NYSE:BG). Its products are used in a
wide range of applications, from bakery and confectionery to
culinary and infant nutrition. With in-depth knowledge of
ingredients, applications and processes, the Bunge Loders Croklaan
team closely cooperates with customers to develop tailored
solutions and create innovative products to meet their business
goals and differentiate them in in the marketplace.
Website Information
We routinely post important
information for investors on our website, www.bunge.com, in
the "Investors" section. We may use this website as a means of
disclosing material, non-public information and for complying with
our disclosure obligations under Regulation FD. Accordingly,
investors should monitor the Investors section of our website, in
addition to following our press releases, SEC filings, public
conference calls, presentations and webcasts. The information
contained on, or that may be accessed through, our website is not
incorporated by reference into, and is not a part of, this
document.
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 (Exchange Act). 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, including statements with
respect to the completion, timing and anticipated use of proceeds
of the offering. 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,
including those risk factors described in or incorporated by
reference in the prospectus supplement for the offering. The
following important factors, among others, could cause actual
results to differ from these forward-looking statements: 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;
competitive developments in our industries; the effects of weather
conditions and the outbreak of crop and animal disease on our
business; global and regional economic, agricultural, financial and
commodities market, political, social and health conditions; the
impacts of pandemic outbreaks, including COVID-19; the outcome of
pending regulatory and legal proceedings; our ability to complete,
integrate and benefit from acquisitions, dispositions, joint
ventures and strategic alliances; our ability to achieve the
efficiencies, savings and other benefits anticipated from our cost
reduction, margin improvement, operational excellence and other
business optimization initiatives; changes in government policies,
laws and regulations affecting our business, including agricultural
and trade policies and environmental, tax and biofuels regulation;
our capital allocation plans, funding needs and financing sources;
changes in foreign exchange policy or rates; the outcome of our
portfolio rationalization initiatives; the effectiveness of our
risk management strategies; our ability to attract and retain
executive management and key personnel; operational risks,
including industrial accidents, natural disasters and cybersecurity
incidents; 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.
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SOURCE Bunge Limited