Bunge Buys UK Carbon Fund As C02 Prices Plummet

Law360, New York (February 22, 2012, 7:29 PM EST) -- U.S. agricultural commodities company Bunge Ltd. will buy London-based carbon fund manager Climate Change Capital Ltd., after the plan was approved by Britain's financial regulator earlier this week, Bunge said Wednesday.

The deal comes as carbon prices have plummeted ahead of the European Union's plan to stop accepting United Nations-issued carbon credits in 2013.

CCC manages a €750 million ($992 million) fund that invests in the carbon market, but has likely seen its valuation fall alongside the price of the offsets, which have lost more than...
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