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Bunge Share Offering
WHITE PLAINS May 26/04 - SNS -- Bunge Limited is making a public offering of 8,500,000 of its common shares at a price of $35.20 per share.
All shares are being offered by Bunge. The net proceeds of the offering to Bunge will be approximately $287 million.
In addition, the underwriters have been granted an option to purchase a maximum of 1,275,000 additional shares to cover over-allotments, if any. Credit Suisse First Boston and Morgan Stanley acted as joint lead managers for the offering.
Bunge intends to use approximately $283 million of the proceeds from this offering to buy back the minority interest in Bunge Brasil S.A., its publicly traded Brazilian subsidiary, pursuant to a previously announced tender offer in Brazil. The remaining net proceeds from the offering will be used for general corporate purposes, including acquisitions, capital expenditures and working capital purposes.
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