CHICAGO – Bunge Ltd (BG.N) is exiting the global sugar trading business and has identified “a few interested parties” in the business as it moves to concentrate on its grains and oilseeds operations, the company’s chief executive said on Wednesday.
Bunge is getting out of sugar trading and distribution after reporting a fourth-quarter loss, which increased pressure on CEO Soren Schroder to improve results at the 200-year-old agricultural merchant that has received takeover approaches from Archer Daniels Midland Co (ADM.N) and Glencore Plc (GLEN.L).
Schroder told Reuters he thinks Bunge’s sugar trading business should have value to other industry members.
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