White Plains, NY-based agribusiness behemoth Bunge Ltd revealed today [Monday] that it is in exclusive negotiations with Italian energy firm Edison in a bid to reach an agreement on the sale of Edison’s 55% stake in French oilseeds giant Cereol.
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Edison has granted exclusivity to Bunge for several weeks. It hopes to raise around €1bn from the sale of its stake.
Owned by debt-laden energy consortium Italenergia, Edison has a €7bn non-core asset disposal plan.
Last week, the company said that it was in exclusive talks to sell its 53.8% stake in French sugar producer Beghin-Say to a group of French sugar producers and beet growers. Earlier this year, it sold olive oil firm Carapelli to a group of Italian investors and sugar producer Eridania to Italian sugar growers Sacofin.
Cereol SA is a first-tier company listed on the Euronext-Paris Stock Exchange.
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