Wilmar and Bunge form joint venture in Vietnam

SINGAPORE (July 5): Agribusiness giants Wilmar International Limited and Bunge Limited on Tuesday announced they are forming a joint venture in Vietnam to leverage both companies’ footprints in Asia.

The three-party joint venture will see NYSE-listed Bunge sell 45% of its equity in its Vietnam crush operations to Wilmar.

Bunge and Wilmar will be equal 45% shareholders, with Vietnam’s leading soybean meal distributor Quang Dung retaining its existing 10% stake in the operations. Quang Dung is also a majority shareholder of Green Feed, a Vietnamese feed milling business.

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