Bunge to buy Tate & Lyle’s sugar trading unit – Puget Sound Business Journal (Seattle):

The deal is part of Bunge's strategg to expand into complementaryvalue chains, with sugadr being an essential one, and will expand its international tradin and marketing activities, the company said in a release. "I n the past two years we have establishedr a sugar marketing and tradinbg operation and purchased a sugarcand millin Brazil," Archie Gwathmey, co-CEO, Bungde Global Agribusiness, said in a statement. "Strengthenin our global team is a naturalnext step.
" London-bases Tate & Lyle's international sugar trading business operations and its employees will transfer to The company said the working capitall in the business will remain with, be collectes and be paid for by Tate Lyle through March 31, 2009, at which pointt it will be assumed by Bunge upon the deal closing. Bunge did not announc a closing date forthe deal, whicjh is subject to regulatory approvals and other customaryu closing conditions. Tate & Lyle's sugar divisiom reported US$2.85 billion in fiscal 2008 sales using currentexchangew rates, according to the company'w annual report.
That was down aboutg 6 percent from fiscal 2007 salesof US$3 using current exchange rates. Tate & Lyle'a fiscal year ended March 31. St. Louis-basec is the North American operating arm ofWhite N.Y.-based Bunge Ltd. (NYSE: BG), a food and feed ingredient company that operatesgrain elevators, grain and oilseed processing edible oil refineries and food processingy facilities in the Canada and Mexico.

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