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Bunge Limited to Expand Sugar and Bioenergy Business in Brazil
Date:12/24/2009

llion in respect of working capital. Based on yesterday's closing price of Bunge's common shares, the total value of all transactions would be approximately $1.48 billion, including approximately $710 million in net debt and excluding this working capital amount, subject to adjustment as described above.

Bunge expects that all of these transactions would be accretive to earnings per share in the first 12 months.

"This transaction fulfills Bunge's strategic goal of building a large-scale, fully integrated business in sugar and bioenergy," stated Alberto Weisser, Chairman and CEO of Bunge Limited. "It adds significant scale to our current milling operations and enables us to vary production among multiple sugar and ethanol products, according to market conditions. The Moema Group cluster is also strategically located near large domestic markets in Brazil and has excellent access to export logistics systems. All of these strengths make it a perfect fit with our global trading and marketing operations."

The Moema Group cluster is located on the border of São Paulo and Minas Gerais states, the two largest domestic ethanol markets in Brazil. The mills benefit from cost savings due to their cluster configuration, and have favorable road and rail access to three of Brazil's largest export ports (Santos, Paranagua and Vitoria). The cluster can produce two types of sugar (raw and crystal) and two types of ethanol (hydrous and anhydrous). It has co-generation facilities, is self-sustaining in terms of energy requirements and sells excess power to the grid. A majority of the cluster's sugarcane is harvested mechanically, and the topography of the region should ultimately allow for approximately 95% mechanization.

"For sugar and bioenergy, Brazil is an ideal location in which to invest," continued Weisser. "It has a fast-growing domestic market for ethanol and, because it boasts the world's lowest-cost production, is well
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SOURCE Bunge Limited
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