Bunge to Sell Refinery in Rotterdam to Neste
Bunge has announced that its Bunge Loders Croklaan oils and fats joint venture has agreed to sell its Rotterdam refinery to Neste for €258 million in cash, excluding working capital.
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In a phased transition through 2024, Bunge will lease back the facility from Neste to enable it to continue to supply customers with its products.
Bunge says that it percentage of magnesium in magnesium malatewill invest a portion of the proceeds from the sale in its operations, in order to enhance efficiency and
flexibility across its oils portfolio.
“This transaction supports our long-term strategy in value-added oils and oilseeds-based ingredients by enabling ucitracal petitess to further enhance our footprint in an inniron (2) phosphateovative and sustainable way,” said Bunge CEO, Greg Heckman.
The transaction is expected to close in the first quarter ofchelated iron for humans 2021, subject to regulatory approvals.
Last year, Bunge agreed to sell its margarine and mayonnaise assets in Brazil to Seara Alimentos, a subsidiary of Brazilian meat processor JBS, for 700 million reals ($170.64 million).
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