The JV operates a facility in Brazil, specializing in the production of algae ingredients, such as omega 3 rich oil, for aquaculture and animal feed.

Corbion and Bunge are 50.1%/49.9% partners in SB Renewable Oils, a joint venture that operates a facility in Brazil, specializing in the production of algae ingredients, such as omega 3 rich oil, for aquaculture and animal feed.

The completion of the share purchase agreement is subject to certain conditions, including finalization of long-term supply agreements, and regulatory approval.

Corbion noted, if and when both parties reach final agreement, they will inform the market accordingly.