Shearman & Sterling represented Bunge Ltd. in its planned transaction with Usina Moema Participacoes SA, a holding company. Moema Par wholly owns one sugar-cane mill in Brazil and has ownership interests in five others. The transaction is structured as a share exchange and, based on the closing price of Bunge common shares on Dec. 23, is valued at approximately $896 million, including approximately $480 million of net debt and excluding a payment of approximately $36 million in respect of working capital. Bunge may also acquire the interests in the other sugar-cane mills not owned by Moema Par, which would increase the value of the transaction to about $1.48 billion. The final number of Bunge shares to be issued will depend on the amount of net debt and working capital of the acquired entities on the closing date. The transaction is expected to close within the next 45 days, subject to certain conditions.

Bunge, headquartered in White Plains, NY, is a leading global agribusiness and food company, with 25,000 employees in over 30 countries. The company supplies fertilizer to farmers; originates, transports and processes oilseeds, grains and other agricultural commodities; produces food products for commercial customers and consumers; and supplies raw materials and services to the biofuels industry.

The Shearman & Sterling team was led by partners Clare O'Brien (New York-Mergers & Acquisitions) and Lona Nallengara (New York Capital Markets) and included associates David Connolly (New York-Mergers & Acquisitions), Dorman Yale (New York-Capital Markets) and Peter Saad (New York-Capital Markets).