September 7, 2013

    

Morocco's OCP to acquire Bunge's stake in Bunge Maroc Phosphore
         
Press release
 
  

OCP Group and Bunge Limited have reached an agreement for OCP to acquire Bunge's 50% ownership interest in their Moroccan fertiliser joint venture Bunge Maroc Phosphore S.A.

 

The joint venture was formed in 2008 to produce fertilisers in Morocco and serve as an additional source of phosphate-based raw materials and intermediate products for Bunge's fertiliser businesses in South America.

 

"Bunge Maroc Phosphore has played an important role in meeting our fertiliser supply needs in South America," said Soren Schroder, Chief Executive Officer, Bunge Limited. "However, with the sale of our fertiliser business in Brazil, the opportunity for OCP to acquire our interest in the joint venture at this time makes strategic sense for both parties."

 

"Bunge Maroc Phosphore (BMP) has been a key component of OCP's strategy and commitment in Latin America. This acquisition further reinforces that commitment. Furthermore, we will now be able to fully integrate BMP in OCP's production system which will provide for greater industrial optimisation of the Jorf industrial platform," said Mhamed Ibnabdeljalil, EVP and Chief Commercial Officer.

 

The transaction is expected to close by the end 2013, subject to customary closing conditions, including regulatory approval in Brazil.

 

OCP Group which is one of the world leaders in the phosphate industry and its derivative products is a major operator in the international market since 1920. Present across the value chain, OCP extracts, markets and sells phosphate and its derivative products.

 

Bunge Limited is a leading global agribusiness and food company operating in over 40 countries which buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat, corn and rice to make ingredients used by food companies; and sells fertiliser in South America.

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