Bunge Increases Share Repurchase Program by $275M
Bunge Limited (NYSE: BG) today announced that its Board of Directors has approved a $275 million increase in the size of its existing share repurchase program. Additionally, the share repurchase program, which was scheduled to expire on December 31, 2012, was extended for an indefinite period.
Alberto Weisser, Bunge's Chairman and Chief Executive Officer, stated, "Our decision to increase the size of our share repurchase program reflects continued confidence in Bunge's long-term growth while also reiterating our commitment to maximizing shareholder value."
As of September 30, 2012, Bunge had repurchased approximately $474 million of its common shares under the share repurchase program, leaving an available balance of approximately $500 million under the expanded program for future share repurchases.
Repurchases may be made from time to time through a variety of means, including in the open market, in privately negotiated transactions or through other means as determined by Bunge, and in compliance with applicable legal requirements. The timing and number of shares repurchased will depend on a variety of factors, including share price and market conditions, and the program may be suspended or discontinued at any time at Bunge's discretion.
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