Bunge : to Sell Rotterdam Refinery to Finland's Neste for $300 Million

By Colin Kellaher

Bunge Ltd. on Tuesday said it agreed to sell a refinery in the Netherlands to Neste Oyj for 258 million euros ($300 million) in cash.

Bunge said it will lease the Rotterdam facility back from Neste, an Espoo, Finland, producer of renewable diesel fuel, in a phased transition through 2024.

The St. Louis agribusiness giant said it expects to complete the sale in the first quarter of 2021, adding that it will use some of the proceeds to improve operational flexibility and efficiency in its asset footprint.

Write to Colin Kellaher at [e-mail]

(END) Dow Jones Newswires

11-03-20 0630ET