By Dean Seal

Bunge Global has agreed to sell to BP its 50% share of their joint venture Brazilian bioenergy and sugarcane ethanol businesses.

The U.S. grain trader and oilseed processor said Thursday that BP Bunge Bioenergia has been operating well but isn't core to Bunge's long-term strategy.

The sale is expected to close in the fourth quarter of this year and yield proceeds of close to $800 million, depending on the time it closes as well as certain closing adjustments.

Write to Dean Seal at

(END) Dow Jones Newswires

06-20-24 0804ET