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Item 8.01 Other Events
Bunge Establishes Partnership with Repsol in Spain to Boost Supply of Renewable Fuels
On March 26, 2024, Bunge Global SA (“Bunge”) announced that Koninklijke Bunge B.V. (“KBBV”), a wholly owned subsidiary of Bunge, entered into a definitive stock purchase agreement with Repsol Industrial Transformation, SLU, a wholly owned
subsidiary of Repsol SA (“Repsol”). Under the terms of the transaction agreement, KBBV is expected to divest 40% of its Spanish operating subsidiary, Bunge Iberica SA, (the “Partnership”) for total consideration of $300 million plus up to $40 million in contingent payments as well as certain adjustments in consideration including net working capital and net debt, among other items.
Through the Partnership, Bunge and Repsol are expected to pursue development of new opportunities to help meet the growing demand for lower carbon intensity feedstocks for the production of renewable fuels. Under the terms of the transaction agreements, Bunge is expected to continue to operate its three plants dedicated to the production of oils and biofuels. Bunge is also expected to continue to be a key producer of protein meals,
vegetable oils and distributor of agricultural commodities in Spain.
The completion of the transactions contemplated by the formation of the Partnership are subject to customary closing conditions, including regulatory approvals.
This
Current Report on Form 8-K 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, which include those related to the Partnership, 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, which are described in our Securities and Exchange Commission ("SEC") filings, including those set forth in the Risk Factors section and under the heading "Cautionary Statement Regarding Forward Looking Statements" in our most recently filed Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which we filed on February 22, 2024. You are cautioned not to place undue reliance on Bunge’s forward-looking statements.The forward-looking statements included in this Current Report on Form 8-K are made only as of the date of this Current Report on Form 8-K, 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.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
