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Bunge Buys TLP Sugar Biz
NEW YORK - Jul 2/08 - SNS -- Bunge Limited will buy the international sugar trading and marketing division of Tate & Lyle PLC, giving it a stronger network for sugar origination in Brazil, Thailand and other geographies. The completion of the transaction is subject to the receipt of certain regulatory approvals and other customary conditions.
As a first stage, the operations and employees of Tate & Lyle's international sugar trading business will transfer to Bunge. The working capital in the business will remain with, and be collected and paid by, Tate & Lyle through March 31, 2009, at which point it will be assumed by Bunge upon final completion of the transaction.
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