Bunge Global (BG) to Sell Its 50% Stake in BP Bunge Bioenergia

Group 1: Company Announcement - Bunge Global SA announced the sale of its 50% share in BP Bunge Bioenergia to its joint venture partner BP plc, exiting the bioenergy and sugarcane ethanol businesses in Brazil to focus on core operations [1][2][3] - The deal is expected to close by the end of the fourth quarter of 2024, with estimated net proceeds of $800 million from the transaction [3] Group 2: Financial Performance - Bunge reported first-quarter 2024 adjusted earnings of$3.04 per share, exceeding the Zacks Consensus Estimate of $2.55, although this represents a 7$13.4 billion, down 12.5% from the previous year, and missed the Zacks Consensus Estimate of $13.78 billion [4] Group 3: Stock Performance - Shares of Bunge Global have increased by 17% over the past year, outperforming the industry growth of 9.9% [5]