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Reuters: Pressure builds on Bunge with struggle to give up sugar

Published 03/29/2018, 11:11 AM
© Reuters.  Reuters: Pressure builds on Bunge with struggle to give up sugar
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  • Bunge (BG +0.8%) is struggling to sell its sugar trading operations, frustrating its strategy of exiting global sugar trading and distribution to concentrate on its core grain and oilseed operations and improve profitability, Reuters reports.
  • German sugar refiner Nordzucker and Singapore-based agribusiness firm Wilmar International were among parties that reportedly were interested, but nothing has materialized.
  • BG targeted a value for the unit, excluding debt, of ~$75M, which suitors deemed too high for what was on offer, according to the report.
  • The lack of strong buyer interest in the sugar unit also illustrates the wider malaise facing the industry, where a supply glut has driven down prices, squeezing BG and its competitors.
  • Now read: Aurora Cannabis (ACBFF) Presents At The Wall Street Investor Forum 26th Annual Growth Conference - Slideshow


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