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Bunge to Acquire Climate Change Capital

WHITE PLAINS, N.Y. and LONDON, Feb. 22, 2012 /PRNewswire/ -- Bunge Limited (NYSE: BG) ("Bunge"), a leading global agribusiness and food company, and Climate Change Capital Limited ("CCC"), a U.K.-regulated sustainable asset manager and advisor, today announced that Bunge has agreed to acquire Climate Change Capital Group Limited ("CCCG").

The transaction was approved by the U.K.'s Financial Services Authority (FSA) on February 20, 2012, and CCCG has obtained the required shareholder approvals to proceed. The transaction is expected to close in the coming weeks; financial terms will not be disclosed.

Daniel Rudolph, Managing Director, Bunge Financial Services Group, said, "Bunge's Financial Services Group has been active in carbon markets since their inception, both as a buyer of carbon credits and an advisor to other market participants. The transaction builds on this long-term presence, combining two established players in sustainability markets and advisory services to create an organization with deep expertise and global reach.  We also see strategic and operational synergies resulting from the combined business, including an enhanced ability to expand service offerings."

James Cameron, Vice Chairman, CCC, said, "Bunge's Financial Services Group is well-placed to support the best interests of existing investors and provide a stable platform to develop new investment opportunities.  As the world's population grows, putting pressure on scarce resources, there is a tremendous opportunity for companies like CCC and Bunge to work to transform the way societies cultivate, manufacture, distribute, consume and develop."

Fee income derived from CCC's advisory and asset management businesses will be fully consolidated for reporting purposes. Assets in CCC's underlying investment vehicles are owned by the investors in the vehicles and are not subject to consolidation in Bunge's financial statements.

About Bunge Limited

Bunge Limited (www.bunge.com, NYSE: BG) is a leading global agribusiness and food company with approximately 32,000 employees in more than 30 countries. Bunge buys, sells, stores and transports oilseeds and grains to serve customers worldwide; processes oilseeds to make protein meal for animal feed and edible oil products for commercial customers and consumers; produces sugar and ethanol from sugarcane; mills wheat and corn to make ingredients used by food companies; and sells fertilizer in North and South America.  Founded in 1818, the company is headquartered in White Plains, New York.

About Climate Change Capital Limited

CCC (www.climatechangecapital.com) manages investments in companies, projects and technologies that provide products or services facilitating climate change mitigation or adaptation.  Its asset management group has focused on four asset classes: carbon finance, private equity, property and energy infrastructure.  CCC also provides financial, strategic and policy advice to energy-intensive industries, financial institutions, clean technology companies and governments. Climate Change Capital Group Limited (CCCG) is the parent company of Climate Change Capital Limited (CCC).

Cautionary Statement Concerning Forward-Looking Statements

This press release contains both historical and forward-looking statements. All statements, other than statements of historical fact are, or may be deemed to be, forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements are not based on historical facts, but rather reflect our current expectations and projections about our future results, performance, prospects and opportunities. We have tried to identify these forward-looking statements by using words including "may," "will," "should," "could," "expect," "anticipate," "believe," "plan," "intend," "estimate," "continue" and similar expressions. These forward-looking statements are subject to a number of risks, uncertainties and other factors that could cause our actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. The following important factors, among others, could affect our business and financial performance: industry conditions, including fluctuations in supply, demand and prices for agricultural commodities and other raw materials and products used in our business; fluctuations in energy and freight costs and competitive developments in our industries; the effects of weather conditions and the outbreak of crop and animal disease on our business; global and regional agricultural, economic, financial and commodities market, political, social and health conditions; the outcome of pending regulatory and legal proceedings; our ability to complete, integrate and benefit from acquisitions, dispositions, joint ventures and strategic alliances; our ability to achieve the efficiencies, savings and other benefits anticipated from our cost reduction, margin improvement and other business optimization initiatives; changes in government policies, laws and regulations affecting our business, including agricultural and trade policies, tax regulations and biofuels legislation; and other factors affecting our business generally. The forward-looking statements included in this release are made only as of the date of this release, and except as otherwise required by federal securities law, we do not have any obligation to publicly update or revise any forward-looking statements to reflect subsequent events or circumstances.

 

SOURCE Bunge Limited

Bunge Limited, Mark Haden, +1-914-684-3398, mark.haden@bunge.com, or Susan Burns, +1-914-684-3246, susan.burns@bunge.com; or Climate Change Capital Group Limited, Daniel Cremin or Denise Cocker, +44 (0) 20 7939 5319, media@c-c-capital.com