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Bunge Divests Oilseed Processing Business In Russia

Bunge Ltd (NYSE:BG) has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil…
byShivani Kumaresan
September 19, 2022
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  • Bunge Ltd (NYSE:BG) has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group. The financial terms were not disclosed.
  • The sale includes the sunflower processing plant in Voronezh.
  • Also Read: Bunge Inks Distribution Deal With Blendtek Ingredients
  • “We are grateful to the team for continuing to deliver essential food and feed in this challenging environment. With Karen Vanetsyan’s more than 25 years of experience in agricultural processing, we are confident the team will continue to successfully serve customers,” said CEO Greg Heckman.
  • Bunge had $823 million in cash and equivalents as of June 30, 2022.
  • Bunge disclosed a few days back that it has completed the sale of its wheat mills in Mexico to Grupo Trimex. BG will continue to operate its corn mill in Querétaro.
  • Price Action: BG shares are trading higher by 1.28% at $90.60 on the last check Monday.
 
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