Bunge Europe sells stake in Saipol

Bunge Europe, the European operating arm of Bunge Limited, has sold its 33.34% share of Saipol S.A.S. to Soprol, effective December 23, 2009.

Saipol operates in France in the field of oilseed crushing, refining and bottling. Saipol controls 100% of Lesieur.

Soprol previously owned 66.66% of Saipol and the sales will give it 100% stake. Soprol is a subsidiary of Sofiproteol, the financial organisation of the French vegetable oils and proteins sector.

The decision is part of Bunge's strategy to focus on emerging markets in Europe, including through acquisition, said Jean-Louis Gourbin, CEO of Bunge Europe.

Bunge said it would maintain its Diester Industries International S.A.S. biodiesel joint venture with Sofiproteol.