The corporate produces soy protein pay attention forB farm animals feed
11 October 2023
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Bunge has agreed to shop for South Korean CJ Cheiljedang Company’s fairness stake in Brazilian soy crusher CJ Selecta, Reuters reported, mentioning a observation on Tuesday.
Bunge didn’t expose the price of the transaction, which is helping it beef up its place as a big soy processor on the planet’s greatest manufacturer and provider of the oilseed.
Korean media pegged the price of the deal at 480 billion gained ($357 million) for a 66% stake.
CJ Selecta, headquartered in Brazil’s Minas Gerais state, owns a plant within the the city of Araguari and produces soy protein pay attention used as farm animals feed in fish, pig, poultry, equine and livestock farms.
In April 2023, Reuters reported that america Bunge had resumed talks for a possible acquisition of a stake within the privately-owned Brazilian soybean crusher.
Bunge’s go back to the negotiating desk got here after proprietor CJ CheilJedang had referred to as off negotiations to promote a controlling stake in 2022.
CJ’s trade in Brazil attracted sturdy hobby from world grain traders at a time when Brazil’s soy processing margins had advanced considerably.
($1 = 1,344.3800 gained)