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Bunge selling oilseed processing business in Russia

Sale includes sunflower processing plant in Voronezh.

Bunge announced this week that it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group. The sale includes the sunflower processing plant in Voronezh.

“We are grateful to the team for continuing to deliver essential food and feed in this challenging environment. With Karen Vanetsyan's more than 25 years of experience in agricultural processing, we are confident the team will continue to successfully serve customers.” said Greg Heckman, Bunge’s CEO.

The completion of the sale is subject to customary closing conditions, including regulatory approval.

Bunge’s operations include buying grains, oilseeds and softseeds from farmers, then storing, transporting and selling them to domestic and export customers. The company also provides financial, risk management and logistics services. Its global network of facilities spans six continents and includes grain elevators, oilseed processing plants and strategically located port terminals.

TAGS: Business
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