Cargill Agrees To Sell Two European Oilseed Processing Facilities To Bunge

(RTTNews) - Cargill and Bunge Limited (BG) announced their intention to enter into an agreement under which Cargill will sell to Bunge two oilseed processing plants and businesses in the Netherlands and France.

In the Netherlands, the transaction includes the soybean and rapeseed crush and soybean oil refining facility in the Port of Amsterdam as well as part of the bulk port terminal assets dedicated to supporting discharge and storage of raw materials for the crush plant.

In France, it includes the soybean and rapeseed crush facility located in the Port of Brest. The aggregate annual processing capacity at the two locations is approximately two million tons.

Cargill will retain its two other soybean processing facilities in Western Europe, in the ports of Barcelona in Spain and Liverpool in the United Kingdom, as these plants are firmly integrated with a number of Cargill's other businesses serving local customers in the food and feed sectors in Spain and the UK. Cargill has an extensive network of plants processing and refining other oilseeds and tropical oils across Europe and it continues to focus on serving its customers and growing its longer term business in this region.

Employees associated with the business (120 in the Netherlands and 51 in France) will transfer to Bunge.

Cargill is now informing and consulting its employee representative bodies in the Netherlands and France.

The transaction is subject to customary closing conditions including competition clearance and employee consultation.