Mexico to tender 9 state-held sugar mills in late March - source
MEXICO CITY, March 9 (Reuters) - The Mexican government is planning to launch a tender for 9 state-held sugar mills toward the end of this month and announce the winners in June, a source close to the process told Reuters.
The move will mark the latest step in a attempt to unwind the expropriation of mills in 2001.
The mills will be auctioned in clusters rather than as a single block, to prevent one buyer from controlling all of the mills and ensure balanced output of refined and standard sugar, the source said.
Mexico expropriated 27 mills in 2001 due to severe financial problems and has since been gradually selling the plants to private operators.
The FEESA governmental fund runs Mexico's nine remaining state-owned sugar mills, which together produce about a quarter of the country's annual output. (Reporting by Adriana Barrera)
© Thomson Reuters 2016 All rights reserved.