UPDATE 1-Commodities trader Bunge agrees to buy 49% of France's BZ Group
(Adds details, background)
PARIS, Nov 22 (Reuters) - Agricultural commodities trader Bunge agreed to buy 49% of France's BZ Group, a move that will support the expansion of BZ Group's silo facility in Rouen, the largest cereal export terminal in Western Europe, the companies said on Tuesday.
The Beuzelin family will keep the remaining 51% majority stake.
BZ Group, located in Normandy, collects about 575,000 tonnes of grains, oilseeds and pulses in the northwest of France and handles about 1.5 million tonnes of agricultural commodities per year in its Rouen export terminal, it said.
"This partnership is expected to strengthen operational and commercial cooperation in an increasingly volatile and demanding market environment," the companies said.
A spokesperson for BZ Group declined to disclose financial details. Details on the expansion of the port facility were not immediately available.
U.S.-based Bunge is one of the world's largest agricultural commodity merchants. (Reporting by Sudip Kar-Gupta, Sybille de La Hamaide and Gus Trompiz; Editing by Kirsten Donovan)
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