FRANCE/USA: Bunge completes acquisition of Cereol, names CEO
US agribusiness and food company Bunge has completed its acquisition of a 55% stake in France-based food and oilseed processor Cereol from Edison for €449.2m (US$440.3m) in cash. As required by French law, Bunge intends to make an offer to purchase, at the same price of €32 per share, the approximately 45% of Cereol shares that remain publicly held. Assuming 100% of the outstanding shares are purchased as part of this process, the total price paid by Bunge for Cereol's equity will be €821.4m. In addition, Bunge may pay up to an additional €3 per share to Edison and Cereol shareholders upon the resolution of a pending arbitration against Cereol. Bunge has also agreed to pay an additional €14m to Edison in exchange for a non-compete agreement.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- 2017: three major drivers of M&A strategy
- just-food 2017 Survey - your thoughts on growth
- Food market in 2017: need-to-know US trends
- 2017 - what will shape the UK food sector?
- Could BRF's Turkey move pave way for OneFoods IPO?
- Premier Foods issues profit warning
- UK's Bakkavor plays down IPO "speculation"
- Ferrero insists Nutella not pulled from shelves
- Lindt sees FY sales acceleration on Europe growth
- Unilever sets packaging target