Bunge Limited announces that its European operating arm, Bunge Europe, has signed a preliminary agreement to acquire Polish edible oil and margarine producer Kama Foods from bankruptcy receivership.Bunge Limited Bunge Limited NYSE: BG (formerly Bunge International and prior to that Bunge Y Born) is a multinational food conglomerate. As well as being a leading global soybean exporter it is also involved in food processing, grain trading, and fertilizer. announces that its European operating arm, Bunge Europe, has signed a preliminary agreement to acquire Polish edible oil and margarine producer Kama Foods from bankruptcy receivership receivership In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. , through EWICO, a limited liability company in Poland. Bunge Europe owns a 50 percent stake in EWICO, with the remaining shares owned by an individual investor. "This strategic acquisition is part of Bunge's continued expansion in Eastern Europe Eastern Europe The countries of eastern Europe, especially those that were allied with the USSR in the Warsaw Pact, which was established in 1955 and dissolved in 1991. ," said Jean-Louis Gourbin, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Bunge Europe. "It will allow Bunge to build closer relationships with farmers and to better serve customers and consumers in Poland." |
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