Bunge's Brazilian businesses plan merger

by Emily Wilson
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Shareholders of Ceval Alimentos S.A. and Santista Alimentos S.A., majority-owned Brazilian subsidiaries of Bunge International Ltd., White Plains, N.Y., were to have voted Sept. 29 on a merger of the two companies through a stock swap.

The resulting company, Bunge Alimentos S.A., will have annual revenues of U.S.$2.7 billion and will operate 36 processing facilities in 14 Brazilian states.

Santista is the leader in margarine products in Brazil and markets almost 180 food products, including bread, family flour, cake mixes, pasta and snack foods. Ceval Alimentos is the largest soybean processor in Latin America and Brazil's leading soybean oil refiner.

Bunge Alimentos will become one of Brazil's largest exporters with annual sales volume of $1 billion.