Bunge for the sale of oilseed processing business in Russia

Bunge for the sale of oilseed processing business in Russia


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(Reuters) – Agricultural Commodity Trading Company Bunge Ltd. said on Monday it had agreed to sell its oilseed processing business in Russia to Exoil Group’s controlling shareholder Karen Vanitsyan.

The sale includes a sunflower processing plant in Voronezh.

Bunge and rival Archer Daniels Midland Corporation (ADM.N) and Cargill, and Louis-Dreyfus Corporation (LDC) — part of the so-called ABCD quartet of global grain traders — began reducing their Russian operations in March, after the country invaded Ukraine. Read more

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On Monday, Bong did not disclose financial details of the deal.

“We are grateful to the team for continuing to provide essential food and feed in this challenging environment,” said Greg Heckman, Bunge CEO.

The company has scaled back Russian grain trading activities in recent years, including the sale of its Rostov grain export terminal last year.

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Additional reporting by Arunima Kumar in Bengaluru; Editing by Uttaresh.V

Our criteria: Thomson Reuters Trust Principles.



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