Reuters: Bunge hires banks for Brazil IPO but launch unlikely soon

|About: Bunge Limited (BG)|By:, SA News Editor

Bunge (BG +0.1%) has hired banks to prepare an IPO of its Brazilian sugarcane mills, but chances of an imminent launch are slim, Reuters reports.

Bankers are beginning to prepare the company for the offering, but investor interest appears small, according to the report, as the global sugar glut pushed down prices and made it tough for mills to turn a profit.

BG has tried to sell its eight Brazilian sugar and ethanol mills for four years, but a separate sale process has failed to attract firm interest from strategic or financial investors.

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