May 16, 2018 / 5:30 PM / 7 days ago

Bunge to sell part of its stake in Brazil's sugar unit IPO

SAO PAULO (Reuters) - Global commodities trader Bunge Ltd (BG.N) plans to sell part of its stake in its Brazilian sugar and ethanol subsidiary, according to documents filed with Brazil’s securities industry regulator CVM.

Bunge Açúcar & Bioenergia reported a loss of 112 million reais ($30 million) in the first quarter, compared with a loss of 62 million reais one year earlier. The subsidiary had net debt of 2.9 billion reais by the end of March, around 2 times its earnings before interest, tax, depreciation and amortization, a common gauge of operational profitability known as EBITDA.

    Reporting by Carolina Mandl and Marcelo Teixeira; Editing by Chizu Nomiyama

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