Brazil Court Weighs Claims Holding up Bunge Soy Acquisitions

Bunge agreed to take on some R$1 billion (US$186 million) of debt and pay R$50 million for the Brazilian soy crushing plants, which can process about 1.5 million tonnes of soybeans per year.

RIO DE JANEIRO, BRAZIL - A Brazilian appeals court on Wednesday, February 2nd, could clear up a legal hurdle delaying Bunge’s plans to take over two soy processing plants following a deal in May with crusher Imcopa.

Wednesday’s hearing will focus on two Panama-registered firms that claim, as indirect creditors of Imcopa, which is in bankruptcy protection, to have rights to some of the proceeds from the sale, according to court filings seen by Reuters.

The three-judge panel is expected to rule on whether the Panamanian firms Minefer Development SA and Triana Business SA are legitimate participants . . .

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