Bunge does not issue shares in IPO of power plants in the country

Agribusiness Giant Bunge does not issue new shares in the IPO of your sugar and ethanol in Brazil, a process coordinated by banks Itau BBA, JP Morgan and Santander. According to the preliminary prospectus for the initial public offering of shares to the Brazilian Securities Commission (CVM), the company indicated that it will sell own shares in potential transaction involving the Bunge Sugar & bioenergy. The measure "gives us the option to make the company public, if we want to, depending on the environment," said the Vice President and Chief Financial Officer of Bunge, Thomas Boehlert, at an event in New York, said Wednesday. According to the company, Bunge Sugar had loss of Bioenergy R & $112 million in the first quarter of 2018, compared with negative result of R $62,000,001 year earlier. In addition, the company's debt at the end of March was almost R $3 billion. Not only does the Bunge, but the Brazilian sugar-energy sector has faced difficult times, with minimum sugar prices in several years because of the huge global supply of the product. Bunge, which came in in 2010, tried to sell its eight Brazilian sugar and ethanol mills for four years, without success. Most of its units in Brazil is located in the North of the State of São Paulo and southern Minas Gerais. The company has the capacity to process about 22 million tonnes of cane per harvest.