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.
“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.
“Solae’s 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)
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