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home / news releases / NTOIY - Bunge offloads its refinery in Rotterdam for Euro258M

NTOIY - Bunge offloads its refinery in Rotterdam for Euro258M

Neste Oyj ADR
Bunge Loders Croklaan JV of Bunge Limited (BG) to sell its refinery located in Rotterdam to Neste Corporation (NTOIY) for €258M in cash, excluding working capital.The company will lease back the facility from Neste in a phased transition through 2024 so that it can continue to supply its customers with its products.The transaction is expected to close in 1Q21. Bunge will reinvest a portion of the proceeds in its asset footprint to reach greater operational flexibility and efficiency and provide an enhanced portfolio of multi-oil refined products to its customers."This transaction supports our long-term strategy in value-added oils and oilseeds-based ingredients by enabling us to further enhance our footprint in an innovative and sustainable way," said Greg Heckman, CEO.

For further details see:

Bunge offloads its refinery in Rotterdam for €258M
Stock Information
Company Name: Neste Oyj ADR
Stock Symbol: NTOIY
Market: OTC
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