Bunge Makes Offer for Tully Sugar

WHITE PLAINS, N.Y.Bunge Agribusiness Singapore announced an off-market takeover offer for Tully Sugar valued at approximately A$126.7 million.
Christopher White, Chief Executive Officer of Bunge Asia, said: The partnership with Tully Sugar will be an excellent complement to Bunges existing global sugar footprint. Bunge has substantial milling and refining assets in Brazil, backed by a global trading and merchandising organisation headquartered in London. Combining with Tully Sugar is an ideal next step in Bunges strategy of building a large-scale global sugar business. It is a first class facility located in the key North Queensland sugar growing region, which is a geographically advantaged supplier to Asia, the worlds fastest growing consumer of sugar. We look forward to linking Tully Sugar to our global business and we are keen to explore possibilities for expanded cane production."