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Bunge Limited Completes Acquisition of La Plata Cereal Acquisition Makes Bunge the Largest Soybean Processor in Argentina.

Publication: PR Newswire
Publication Date: 04-MAR-02
Format: Online
Delivery: Immediate Online Access

Article Excerpt
WHITE PLAINS, N.Y. -- Bunge Limited today announced that it has closed its acquisition of La Plata Cereal S.A., a leading Argentine agribusiness company, for a maximum enterprise value of US$50 million in cash and assumed debt. The acquisition is in line with Bunge's stated strategy of pursuing selective acquisitions to expand its core businesses in key growth markets. Bunge expects the acquisition to be accretive to earnings in the second quarter of 2002.

Bunge acquired La Plata from Andre & Cie S.A., the Swiss agribusiness company. Bunge believes that this acquisition makes it the largest soybean processor and the second largest exporter of agricultural products from Argentina, both based on volumes. The acquisition also expands Bunge's fertilizer business, which is...

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