November 1/White Plains, N.Y./PRNewswire -- Bunge Agribusiness Singapore Pte. Ltd. announced it intends to form a joint venture with PT Bumiraya Investindo (BRI), the Indonesian palm plantation subsidiary of PT Tiga Pilar Sejahtera Food Tbk (TPS Food). This would be Bunge's first investment in the palm oil industry.
Under the terms of the agreement with TPS Food, Bunge Agribusiness Singapore Pte. Ltd would acquire a 35% minority stake in BRI. The transaction is subject to approval by TPS Food shareholders and regulatory approvals in Indonesia.