ST. LOUIS — Bunge Limited announced Tuesday in a news release that it has agreed to sell 35 U.S. interior elevators to Zen-Noah Grain Corporation.
It was unknown at press time if Bunge Grain in Portageville or Caruthersville were among the 35 elevators that will be sold as requests for information from Bunge were not immediately returned.
Financial details of the sale were not disclosed and the deal is subject to customary closing conditions and regulatory approvals, Bunge said.
“This transaction will allow Bunge to operate more efficiently and reinvest in higher returning areas of the company while reducing costs and strengthening our balance sheet,” said Greg Heckman, Bunge’s chief executive officer. “Bunge will continue to be an industry leader in the U.S. grain marketplace through global grain trading and distribution with our export terminal in Destrehan, Louisiana, which we are expanding, and EGT, our joint venture in the Pacific Northwest. We will also continue our strong presence in the soybean processing business and milling operations.”