CADE clears Bunge's acquisition of 33.3% equity interest in Sinagro

On 7 March 2022, the Office of the Superintendent General of the Administrative Council for Economic Defense (CADE) announced its decision to approve unconditionally Bunge Alimentos' acquisition of 33.3% of the stake of Sinagro Produtos Agropecuários.

The Bunge Group has worldwide operations in the sectors of agribusiness, food, and biofuel. Sinagro acts in agribusiness, specifically in the distribution of agricultural inputs (pesticides, fertilisers, and seeds) and in grain origination.

According to the firms, the transaction is part of Bunge's growth and consolidation strategy in the agribusiness sector, which offers Sinagro the opportunity to improve its business with the entry of an experienced investor in the sector.

The CADE Office of the Superintendent General pointed out the deal does not incur harm to competition since their joint market share is not high.

The decision of the Office of the Superintendent General is regarded final and the deal fully approved if the authority's Tribunal does not request the case for adjudication or a third party does not appeal to the ruling within 15 days of its announcement.

Access Case no. 008700.000936/2022-79.