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RELATED PARTY TRANSACTIONS INCLUDING CHANGES IN EQUITY METHOD INVESTMENTS
9 Months Ended
Sep. 30, 2013
RELATED PARTY TRANSACTIONS INCLUDING CHANGES IN EQUITY METHOD INVESTMENTS  
RELATED PARTY TRANSACTIONS INCLUDING CHANGES IN EQUITY METHOD INVESTMENTS

14.                               RELATED PARTY TRANSACTIONS INCLUDING CHANGES IN EQUITY METHOD INVESTMENTS

 

Bunge purchased commodities and commodity products and fertilizer products from certain of its investees, totaling $128 million and $190 million for the three months ended September 30, 2013 and 2012, respectively, and $413 million and $540 million for the nine months ended September 30, 2013 and 2012, respectively.  Bunge also sold commodities and commodity products to certain of its investees, totaling $108 million and $150 million for the three months ended September 30, 2013 and 2012, respectively, and $463 million and $414 million for the nine months ended September 30, 2013 and 2012, respectively.

 

On September 5, 2013, Bunge entered into a definitive agreement with its joint venture partner, OCP Group (OCP) whereby OCP will acquire Bunge’s 50% ownership interest in its fertilizer joint venture in Morocco.  This venture is accounted for by the equity method.  The transaction is expected to close in the fourth quarter of 2013, subject to customary closing conditions, including regulatory approval in Morocco.  The equity in earnings of the joint venture are reported in continuing operations for the three and nine months ended September 30, 2013.