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Bunge Reveals 5-Year Old Brazilian Antitrust Case Is Back On
Disclosure was made in an SEC filing footnote after the ag firm failed to mention the matter on its earnings call.
October 26, 2022
In 2017 Bunge (BG), an agribusiness and food company, was targeted by trustbusters in Brazil for what the company calls antincompetitive practices. The administrative proceeding, conducted by the Brazilian Administrative Council for Economic Defense (CADE) involved two of Bunge’s Brazilian subsidiary’s employees, certain former employees, and several other companies in the Brazilian wheat milling industry.

The matter was paused after a co-defendant obtained an injunction to stay the proceeding in 2019.

Though no mention was made on the company’s earnings call or release, Bunge disclosed in its latest quarterly filing that a Brazilian appellate court reversed that injunction and the proceeding has resumed before the Brazilian CADE.
Related: ADM, GLEN, WLMI.Y
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