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TRANSFERS (TO) FROM NONCONTROLLING INTERESTS
6 Months Ended
Jun. 30, 2012
TRANSFERS (TO) FROM NONCONTROLLING INTERESTS  
TRANSFERS (TO) FROM NONCONTROLLING INTERESTS

18.          TRANSFERS (TO) FROM NONCONTROLLING INTERESTS

 

Bunge has a 51% controlling interest in a joint venture with two third party companies related to a grain terminal in Longview, Washington, U.S., which it consolidates. During the six months ended June 30, 2012, Bunge and the noncontrolling interest holders, which have a 49% interest, made proportionate capital contributions, resulting in no ownership percentage change. The total contribution from the noncontrolling interest holders was $6 million.

 

In May 2012, Bunge acquired an additional 63.5% ownership interest of a wheat mill and bakery dry mix operation in North America resulting in Bunge having a 95% controlling interest in the entity. Upon consolidation, Bunge recognized noncontrolling interest of $6 million representing the fair value of the noncontrolling interest (see Note 3).

 

Bunge has a 50% controlling interest in a joint venture in South Africa.  In May 2012, Bunge and the noncontrolling interest holders made proportionate capital contributions resulting in no ownership percentage change.  The total contribution from the noncontrolling interest holder was $4 million.

 

In March 2012, Bunge consolidated an acquired asset management company and recorded $267 million of noncontrolling interest related to certain managed investment funds (see Note 1) in which the management company was determined to be the primary beneficiary.