Cargill, AB Foods May Be Studying CSR Sugar Unit, Age Says

By Madelene Pearson

July 15 (Bloomberg) -- Cargill Inc., Associated British Foods Plc , Cosan SA Industria e Comercio and CJ Corp. may have begun studying a major investment in CSR Ltd.’s sugar unit, the Age newspaper said, without citing anyone.

The four overseas trading houses have firmed as favorites to buy CSR’s sugar business in a trade sale, though the CSR board still prefers a public share sale of Australia’s biggest sugar company, the newspaper said. Suedzucker AG may also be a potential bidder, it said.

CSR advisors Goldman Sachs JBWere Pty and Lazard Carnegie Wylie are seeking a cornerstone investor to take as much as 25 percent of CSR Sugar, the newspaper said.

To contact the reporter on this story: Madelene Pearson in Melbourne on mpearson1@bloomberg.net