Bunge: to Acquire Edible Oils and Fats Business

Mumbai / IN. (bl) Bunge India Private Limited, a wholly owned subsidiary of Bunge Limited, and Amrit Banaspati Company Limited announced that Bunge India has entered into definitive agreements with Amrit Banaspati and Amrit Corporation Limited to acquire the edible oils and fats business of Amrit Banaspati.

The acquisition includes Amrit Banaspati´s manufacturing facility at Rajpura in the state of Punjab, rights to its brands and trademarks, its sales and distribution business and the transfer of employees pertaining to its edible oils and fats business to Bunge India. Bunge India would also acquire rights to Gagan, the vanaspati brand held by Amrit Corporation which is currently licensed to Amrit Banaspati.

The transaction, which is subject to approval by shareholders of Amrit Banaspati and Amrit Corporation, has been unanimously approved and recommended by the Boards of Directors of both companies. The transaction is also subject to regulatory approvals and other customary closing conditions.