Bunge announced that it has agreed to sell its oilseed processing business in Russia to Karen Vanetsyan, the controlling shareholder of Exoil Group.

The sale includes the sunflower processing plant in Voronezh. The completion of the sale is subject to customary closing conditions, including regulatory approval.

“We are grateful to the team for continuing to deliver essential food and feed in this challenging environment. With Karen Vanetsyan's more than 25 years of experience in agricultural processing, we are confident the team will continue to successfully serve customers.” said Greg Heckman, Bunge’s CEO.