Bunge and Grupo Minsa agree to terminate agreement
Nov. 20, 2017
Transaction discussions were previously suspended because of delays in obtaining authorizations needed to close. During this time, a change in Minsa's business model in Mexico led the two companies to agree to cancel the transaction.
"We remain committed to strengthening our Food and Ingredients segment by expanding our value-added food products lines," said Todd Bastean, CEO, Bunge North America. "We will continue to look for investment opportunities that position Bunge for growth by enabling us to deliver a high quality, reliable supply of food ingredients to our customers around the globe."
The two companies have agreed to terminate all obligations under the subscription agreement and release each other from all associated liabilities.
More from AgroNews
- Top 20 Brazilian agrochem companies in 2017: Mergers will increase market concentration in the future
- Sichuan Lomon Bio Takes S-ABA and Gibberellin as Core Products to Build Full Range Product Line on Basis of Biotechnology
- AkzoNobel Specialty Chemicals rebrands as Nouryon
- What venture capital looks for in agricultural start-ups