UPDATE 1-Bunge to buy back up to $700 mln shares

* Buyback follows sale of Brazilian business

* Says buyback to take place through year end

NEW YORK, June 8 (BestGrowthStock) – Bunge Ltd (BG.N: ) said on
Tuesday it authorized a plan to buy back up to $700 million
common shares through December 31, making use of a stronger
balance sheet after the sale of its Brazilian business.

“Following the recent closing of the sale of our Brazilian
fertilizer nutrients assets, our strengthened financial profile
also provides an excellent opportunity for us to return capital
to shareholders,” Chief Executive Alberto Weisser said in a

In January, Bunge struck a deal with Brazilian mining
company Vale (VALE5.SA: ) (VALE.N: ) to sell its fertilizer assets
in Brazil for $3.8 billion. [ID:nN27166536]

The repurchases will be made periodically through means
including sale in the open market and privately negotiated
transactions, the company said.

Shares of the White Plains, New York-based company were up
0.65 percent at $47.76 Tuesday on the New York Stock Exchange.

Stock Market Money

(Reporting by Nivedita Bhattacharjee; editing by Carol

UPDATE 1-Bunge to buy back up to $700 mln shares