Bunge Global Completes Sale of Its 50% Stake in BP Bunge Bioenergia

Group 1: Company Strategy and Transactions - Bunge Global SA has completed the sale of its 50% share in BP Bunge Bioenergia to BP plc for $800 million, marking its exit from the bioenergy and sugarcane ethanol business in Brazil [1][3] - The joint venture BP Bunge Bioenergia was established in 2019 and operates 11 mills across Brazil [2] Group 2: Financial Performance - Bunge Global reported Q2 2024 adjusted earnings of$1.73 per share, missing the Zacks Consensus Estimate of $1.79, and reflecting a 53$13.2 billion, down 12% from the previous year, and also missed the consensus estimate of $13.69 billion [4] - The decline in Agribusiness results was attributed to a 15$9.25 in 2024, indicating a 32% decline from 2023 [6] - The merger with Viterra, announced in June 2023, is progressing well and is expected to enhance Bunge Global's global network and operational efficiency [7][8] Group 4: Market Performance - Bunge Global's shares have declined 7.6% over the past year, contrasting with the industry's 8% growth [10]