Brazil’s Antitrust Watchdog OKs Bunge Soy Deal

Brazilian antitrust regulator CADE said on Wednesday it gave final and unconditional approval for Bunge’s proposed acquisition of two soy crushing plants in Brazil.

Bunge signed on May 20 the contracts to acquire the units from seller Imcopa, which was operating under bankruptcy court protection.

Both of the plants that Bunge acquired, located in the southern state of Paraná, processed about 1 million tonnes of soybeans last year.

Paraná, where the assets are located, accounts for almost 19% of Brazil’s oilseeds processing capacity, according to oilseeds crusher group Abiove.

One of Imcopa’s plants is 100 km (60 miles) from a key port and produces soy protein concentrate used to make livestock feed.

CPI

Tags: Soy Deal, Bunge