SAO PAULO, Dec 20 (Reuters) - Commodities dealer and meals processor Bunge Ltd BG.N mentioned on Fr
SAO PAULO, Dec 20 (Reuters) – Commodities dealer and meals processor Bunge Ltd BG.N mentioned on Friday it agreed to promote its margarine and mayonnaise property in Brazil to Seara Alimentos, a subsidiary of Brazilian meat processor JBS SA JBSS3.SA.
JBS mentioned in a separate assertion that Seara Alimentos pays Bunge 700 million reais ($170.64 million) for the property, which embody three vegetation in Brazil and types comparable to Delícia, Primor and Gradina.
“This transaction additional streamlines our operations in Brazil round our core capabilities, whereas offering good worth for a strong enterprise,” Bunge’s chief government, Greg Heckman, mentioned in its assertion.
That is the second main deal for Bunge in Brazil this yr. In July, the corporate determined to place all of its sugar and ethanol property in a enterprise with oil firm BP Plc BP.L, in a deal during which it acquired $775 million.
Seara Alimentos is JBS’s arm for poultry processing and for a big meals service enterprise in Brazil. JBS mentioned the deal…