US Bunge sells stake in soy business to DuPont

01 May 2012 15:10  [Source: ICIS news]

HOUSTON (ICIS)--US agribusiness Bunge has sold its 28% stake in Solae to DuPont for $440m (€334m), Bunge said on Tuesday. 

Bunge and US-based producer DuPont formed Solae as a joint venture in 2003 to develop and produce soy protein ingredients for food and other applications.

“This transaction enables Bunge to redeploy capital into our strategic, core businesses,” said Bunge CFO Drew Burke.

“The investment in Solae, along with the acquisition of Danisco last year, has significantly added to our leadership position in food ingredients,” said DuPont executive vice president James Borel. 

Solaes scientific expertise and market leadership in soy is a critical element in our plans to enhance the quality and quantity of food for a growing global population,” Borel added.

($1 = €0.76)

By: Frank Zaworski
+1 713 525 2653

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