Monday, September 28, 2015

CADE approves acquisition of Pacific Mill by Bunge

The Administrative Council for economic Defense (Cade) approved without restrictions the acquisition of Pacific Mill industry and commerce, one of the leading companies of the country's wheat processing, by the Brazilian Division of agribusiness giant Bunge, according to statement released on Friday.
Cade has concluded that the operation "doesn't affect significantly the competitive scenario", according to the opinion.
The operation was announced in late August by Bunge, which did not disclose the transaction values.
Bunge group, buying "represents an opportunity to expand its operations in the segment of wheat milling for the production of flour and wheat bran and increase their competitiveness in the markets," said the opinion of Cade.
The Pacific Mill industry and Commerce belongs to the group Pacific Mill.
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