Sector News

Bunge to buy 70 pct stake in IOI Group unit for $946 million

September 13, 2017
Consumer Packaged Goods

Agricultural commodities trader Bunge Ltd said on Tuesday it would buy a 70 percent stake in IOI Loders Croklaan from Malaysian palm oil producer IOI Corp Berhad for $946 million.

IOI Loders’ portfolio includes palm and tropical oil-derived products.

The deal is expected to close in the next 12 months and IOI Loders will retain its brand and operate as part of Bunge’s food & ingredients business, Bunge said.

By John Benny

Source: Reuters

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