November 24, 2009

Bunge in billion-dollar deal to buy Brazil sugarcane company

Bunge Limited has signed an agreement to buy Brazilian privately held sugarcane company Moema, the local Estado newswire reported after market hours on Monday (November 23).

Bunge's press and investor relations office in White Plains, New York was unavailable for immediate comment on a deal Estado cited unnamed sources as saying was close to US$1.35 billion.

Moema is a mid-sized sugar and ethanol milling company. If Bunge acquired Moema, it would be one more step in further consolidation in Brazil's sugarcane and ethanol producer industry.