New York Ag News Headlines Bunge Limited Completes Initial Closing of Moema New York Ag Connection - 02/08/2010 Bunge Limited announced that it has completed the acquisition of certain interests in the Moema Group cluster of sugarcane mills in Brazil. Following the closing announced, Bunge now owns 100% of three of the mills (Moema, Frutal and Ouroeste), 70% of a fourth mill (Guariroba) and approximately 44% of a fifth mill (Itapagipe). Bunge issued approximately nine million common shares at closing. The final number of shares to be issued to the sellers is subject to a post-closing adjustment based upon the net debt and working capital of the mills as of the closing. Bunge expects to complete the acquisition of the remaining interests in the Guariroba and Itapagipe mills in the coming days. Additional shares will be issued in conjunction with these closings. Upon completion of these transactions, Bunge will own 100% of five of the Moema Group mills, with a total sugarcane milling capacity of 13.7 million metric tons. Bunge will not assume any ownership interest in the Vertente mill. As previously announced, Bunge has agreed to file a registration statement for the common shares of Bunge Limited issued in these transactions which will allow the shareholders receiving these shares to resell them from time to time. In addition, these shareholders have agreed, during the 18-month period after the closing, to certain volume and other restrictions with respect to sales of their common shares. Copyright © 2010 - USAgNet.com. All Rights Reserved.