News International Sugar Journal

Bunge makes cash offer to buy Australia’s Tully Sugar [Registered]

Tully Sugar of Australia and Bunge Agribusiness Singapore, a wholly owned subsidiary of Bunge, announced on 29 December ’10 that Bunge will offer A$41.00 (€31) cash per share for Tully Sugar in an off-market takeover offer valuing Tully Sugar at around A$126.7 million (€96 million). Tully Sugar chairman Ralph Craven said: “The Bunge offer provides substantial value to all Tully Sugar shareholders. With its deep trading experience and global reach, Bunge brings operating and financial strength to Tully Sugar. The Australian sugar industry and the Asian region are evolving quickly. The Tully Sugar Board believes the association with Bunge will…

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