Singapore’s state investment fund has purchased a 5% stake in US agribusiness Bunge.

According to a regulatory filing yesterday (23 February), The Government of Singapore Investment Corp. has bought 7,305,865 shares of New York-listed Bunge, valuing its stake at US$496m, based on Bunge’s closing price of $67.83 yesterday.

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Bunge, which has operations in around 30 countries, booked a drop in full-year profits earlier this week. chairman and CEO Alberto Weisser said he expects “2012 will present some challenges, especially early in the year”.

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