PIXABAY
Bunge’s agreement to buy two soy-processing facilities in Brazil has been canceled amid a protracted, multi-jurisdictional legal battle involving Imcopa, the seller of the assets, according to documents related to the disputes seen by Reuters.
The U.S.-based grain trader, which declined to comment on the cancellation, signed a commitment to buy the two facilities from Imcopa in May 2020.
The deal would have increased the number of Bunge oilseeds processing plants in Brazil from eight to 10.
The seller told the court that legal disputes involving the brewer that had a lease agreement to operate the two plants wanted by Bunge, as well as interference from two Panama-based entities which claim to be creditors unravelled the deal.
