01 maj: Tirsdagens aktier: Amerikansk påvirkning gav plusser til sidst
01 maj: Markedsoversigt: Finansmarkedernes hviledag
01-05-2012 17:24:00

UPDATE: DuPont Buys Full Ownership Of Solae Venture From Partner Bunge

Relateret indhold

--DuPont buys Bunge's 28% stake in Solae venture

--DuPont pays Bunge $440 million

--Bunge to invest proceeds in core businesses

(Updates to include financial terms of deal in 1st paragraph, Bunge earnings in the 6th paragraph and comment by CFO in the 7th paragraph)

DOW JONES NEWSWIRES

E.I. DuPont de Nemours & Co. paid Bunge Ltd. (BG) about $440 million to acquire full ownership of Solae LLC, their soy-based ingredients venture, as DuPont looks to expand its position in the food ingredients market.

DuPont previously owned 72% of the venture while Bunge owned the remaining 28%.

The companies formed the venture in early 2003 to produce and distribute specialty food ingredients. At that time, DuPont estimated initial global revenue from Solae to exceed $800 million annually. In exchange for its specialty-food-ingredients businesses in 2003, Bunge was to receive the 28% interest in the venture plus an estimated $260 million, which was funded by joint-venture debt.

DuPont said its long-term segment financial targets are to post a 7% to 9% compound annual growth rate for sales and to expand pretax earnings margins 12% to 14%. With full ownership of Solae, DuPont expects to reach the upper end of its margin targets with planned synergies.

The chemicals giant last month reported its first-quarter profit rose 4% as higher pricing and a jump in sales of agricultural products contributed to a 12% sales increase.

Meanwhile, Bunge reported last week its first-quarter earnings fell by a greater-than-expected 60% as weak prices for fertilizer and its sugar-based ethanol hurt margins, though revenue grew 10%.

The Solae deal allows Bunge "to redeploy capital into our strategic, core businesses," said Chief Financial Officer Drew Burke in a statement Tuesday.

-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

(END) Dow Jones Newswires

May 01, 2012 11:24 ET (15:24 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Carlsberg glæder sig over russisk kontrol-udskydelse

24-04-2015 15:54:28
Bryggerierne i Rusland, herunder Carlsberg, glæder sig over en beslutning fra myndighedernes side om at udskyde tidspunktet for, hvornår de skal tilslutte sig d..

DSV/Nykredit: Hæver anbefaling til "outperform"

24-04-2015 12:52:42
Nykredit Markets hæver anbefalingen af aktien i DSV til "outperform" fra "underperform", efter at aktien har klaret sig dårligere end det generelle marked de se..

Novo: Astrazeneca-regnskab gøder jorden for stærkt Victoza-salg

24-04-2015 09:59:32
Svensk-britiske Astrazeneca har fremlagt sit regnskab for første kvartal, der viser, at salget af nye diabetespræparater er vokset 47 pct. år til år, og selvom ..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
Fredagens aktier: Storbanker sender Pandora i rekord
2
Britisk detailgigant slutter skidt uge i skrotbunken
3
Stylepit i kursridt trods fortsat tænkepause for ledelsen
4
Nordea: Nasdaqrekord bunder i forholdet mellem kurs og overskud
5
Viborg HK: Hellerup Finans tror på aftale med New Beginning

Relaterede aktiekurser

Du Pont (E.I.) de Nemour.. 71,52 1,0% Stigning i aktiekurs
Bunge Ltd 85,80 0,1% Stigning i aktiekurs
DU Pont DE Nemours 65,10 0,1% Stigning i aktiekurs

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
25. april 2015 14:31:04
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: LiveBranchBuild_20150423.1 - EUROWEB2 - 2015-04-25 14:31:04 - 2015-04-25 14:31:04 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x