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BRIEF-Bunge to acquire 70pct ownership interest in IOI Loders Croklaan to create a leading solutions provider in B2B oils
2017年9月12日 / 上午10点42分 / 2 个月前

BRIEF-Bunge to acquire 70pct ownership interest in IOI Loders Croklaan to create a leading solutions provider in B2B oils

Sept 12 (Reuters) - Bunge Ltd:

* Bunge to acquire 70pct ownership interest in IOI loders Croklaan to create a leading solutions provider in B2B Oils

* Bunge Ltd - deal ‍immediately accretive to cash earnings​

* Bunge Ltd - deal for ‍for $946 million​

* Bunge Ltd - ‍transaction is expected to result in $15 million in cost synergies in year one​

* Bunge Ltd - ‍ transaction is expected to result in $15 million in cost synergies in year one​

* Bunge Ltd - deal value comprises of eur 297 million and $595 million in cash​

* Bunge Ltd - ‍bunge has entered into a $900 million, unsecured, delayed draw, three-year term loan agreement with sumitomo mitsui banking corporation​

* Bunge - ‍in year three, cost synergies expected to total $45 million and revenue synergies are expected to be $35 million for a total of $80 million annually​

* Bunge Ltd - is expected that loders will generate $105 million of EBITDA in 2018 on a stand-alone basis​ post deal

* Bunge Ltd - ‍ a $900 million, unsecured, delayed draw, three-year term loan agreement may be used to finance acquisition​

* Bunge Ltd - deal for ‍transaction is expected to be accretive to earnings on a cash basis in first 12 months post-closing​

* Bunge Ltd - ‍for a period of five years after deal closing, Bunge will have right to purchase remaining interest in loders from IOI​

* Bunge Ltd - ‍transaction is expected to be accretive to earnings by about 5pct on a GAAP basis and about 7pct on a cash basis by end of year three​

* Bunge Ltd - ‍combined business will establish a five-member board of directors consisting of three bunge representatives and two ioi representatives​

* Bunge Ltd - ‍balance of transaction may be funded with cash on hand or borrowings under existing credit facilities​

* Bunge-‍Loders to retain , operate as part of Bunge’s food & ingredients business with key management team members expected to stay with combined business​

* Bunge Ltd - ‍entered into a definitive agreement to acquire a 70pct ownership interest in IOI Loders Croklaan from IOI Corporation Berhad​ Source text for Eikon: Further company coverage:

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