Montedison in talks to sell Cerestar stake

by Emily Wilson
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Montedison SpA is in exclusive negotiations to sell its interest in Cerestar SA to Cargill, Inc. Montedison holds a 56% stake in Cerestar through direct and indirect shares, the company said.

Cerestar is Europe’s largest producer of starches and starch derivatives.

Montedison said it hoped to finalize the plan by the end of October. The terms and conditions of any potential agreement were not disclosed. Montedison also said it had the right to stop the negotiations with Cargill at any time but could not undertake talks with third parties.