OCP Group To Buy Out Bunge's Stake In Bunge Maroc Phosphore Joint Venture

(RTTNews) - OCP Group or OCP and Bunge Limited (BG) announced they have reached an agreement for OCP to acquire Bunge's 50% ownership interest in their Moroccan fertilizer joint venture.

As noted, the joint venture, Bunge Maroc Phosphore S.A. was formed in 2008 to produce fertilizers in Morocco and serve as an additional source of phosphate-based raw materials and intermediate products for Bunge's fertilizer businesses in South America.

The transaction is expected to close by the end 2013, subject to customary closing conditions, including regulatory approval in Brazil.