Bunge and Grupo Minsa agree to terminate agreement

Bunge North America ("Bunge"), the North American operating arm of Bunge Limited (NYSE:BG), announced recently that Bunge and Grupo Minsa S.A.B. de C.V. ("Minsa") have mutually decided to terminate the share subscription agreement which would have given Bunge a controlling financial interest in Minsa. 

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.