UPL announces partnership with Bunge

Bunge to acquire 33% stake in Sinagro

UPL announced that the company and other shareholders in Sinagro Produtos Agropecuarios SA., Brazil, ('Sinagro') have announced an agreement in which Bunge ('Bunge') will acquire a 33% stake in Sinagro to strengthen its grain orientation strategy in Brazil.

Sinagro is a major reseller of grains and agricultural products with a significant presence in Brazil's 'Cerrado' savanna region. Bunge is one of the world leaders in sourcing, processing, and supplying oilseed and grain products and ingredients. The deal announced today is subject to approval by Brazil's antitrust body, Conselho Administrativo de Defesa Econica ('CADE').

For more than 20 years Sinagro's strategic focus has been supporting producers, and with a network of more than 30 stores and warehouses, and a footprint across seven Brazilian states (Mato Grosso, Mato Grosso do Sul, Goi, Bahia, Tocantins, Par and Minas Gerais), Sinagro is strategically positioned to support suppliers and final customers alike.

Sinagro was one of the first signatory companies to join Bunge's Sustainable Partnership a groundbreaking initiative, launched in 2021, whereby Bunge helps grain resellers set up socio environmental assessment systems for suppliers - including satellite monitoring - at the farm level. Program participants can adopt independent geospatial imaging services or use Bunge's structure at no cost.

UPL's associate company Sinagro is a reseller of grains and agricultural products based in Brazil.

Bunge is an agribusiness company specialising in soybean exports, food processing, grain trading and fertilizers, with global operations.

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