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Bunge sells half its stake in Vietnam operations

Jul. 05, 2016 12:42 PM ETBunge Global SA (BG) StockBy: Carl Surran, SA News Editor
  • Bunge (NYSE:BG -1.2%) agrees to sell half its stake in oilseed crushing operations in Vietnam to Singapore's Wilmar International (OTCPK:WLMIF), the world's largest palm oil processor and one of the biggest soybean buyers, for an undisclosed sum.
  • The sale creates a three-party joint venture with BG and Wilmar as equal 45% shareholders and Vietnam's Quang Dung retaining its existing 10% stake in the operations.
  • BG says the deal will "create increased operating, marketing and logistics synergie," and will help the company "remain a low-cost operator with the highest efficiency possible."

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