Bunge, CJ Selecta, Sodrugestvo vie for Imcopa soy crushing assets (updated)

CJ CheilJedang

25/10/2019 17:43

(Adds bidding process details)
    SAO PAULO, Oct 25 (Reuters) - Brazilian grain crusher Imcopa
Importação, Exportação e Indústria de Óleos SA  IMCTN.UL  has
attracted at least three potential bidders for two soy
processing plants on sale, two sources familiar with the bidding
process said.
    The three contenders are U.S.-based Bunge Inc  BG.N , CJ
Selecta, owned by South Korea's CJ Cheiljedang  097950.KS , and
the local unit of Russia's Sodrugestvo  SODRU.UL , according to
the sources, who requested anonymity because the process is
confidential. 
    The plants are being sold to repay Imcopa's creditors under
terms of a restructuring approved by the company's lenders in
late 2017.    
    Bunge and Sodrugestvo did not immediately reply to a request
for comment. CJ Selecta and seller Imcopa declined to comment. 
    The bids are due on Dec. 4 and the combined value of the two
plants is 536.3 million reais ($133.6 million), according to an
evaluation in Imcopa's restructuring plan.
    
    ($1 = 4.0152 reais)

 (Reporting by Ana Mano
Editing by Franklin Paul and Tom Brown)
 ((ana.mano@thomsonreuters.com; Tel: +55-11-5644-7704; Mob:
+55-119-4470-4529; Reuters Messaging:
ana.mano.thomsonreuters.com@reuters.net))