Shareholders Approve Bunge’s Jump to Switzerland

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The shareholders of Bunge Limited, the American agribusiness and food company have voted in support of its re-domestication from Bermuda to Switzerland.

The vote, during an extraordinary general meeting, will change the place of incorporation and residence of the ultimate parent company of the Bunge Group.

The company announced last December that its board of directors had unanimously approved moving its place of incorporation from Bermuda to Switzerland.

Bunge said it had performed an extensive review of its business operations and emerging trends in the global tax environment.

Switzerland was determined to be the best jurisdiction in which to re-domesticate, the company said, because it allowed Bunge to align its corporate legal structure with its commercial operations, was more centrally located within its major markets and was home to many global companies.

In addition, Bunge said it has had substantial operations in Switzerland for more than two decades.

The company’s operational headquarters will remain in St Louis.

Bunge will continue to be subject to US Securities and Exchange Commission reporting requirements.

The company’s shares will continue to be listed exclusively on the New York Stock Exchange.

Bunge has almost 23,000 employees working across approximately 300 facilities in more than 40 countries.

Source : RG