U.S. agricultural commodities trader Bunge Ltd (BG.N) said Friday it has terminated a deal for a controlling stake in Mexican corn miller Grupo Minsa SAB de CV (MINSAB.MX), an acquisition that would have made Bunge the top grain miller in Mexico.
The deal would have given Bunge control of four corn mills in Mexico and two mills in the United States. Minsa could not immediately be reached for comment.
The termination is a setback for Bunge’s strategy to grow its food and ingredients unit with higher-margin business like specialty milling and oilseed processing. Its goal is for food and ingredients to bring in a third of the company’s profit.
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