LAUSANNE, Switzerland — U.S. agribusiness Bunge is seeking a stake in Russian state-owned United Grain, Jordi Costa, vice president for Bunge's agribusiness, sugar and bioenergy, said on the sidelines of an FT commodities conference.
United Grain is issuing additional shares to sell a stake of 50 percent minus one share in the company.
"Right now there's the privatization of United Grain. We are all interested in it," Costa said. Several parties have already expressed an interest, including Bunge rival Louis Dreyfus Commodities and privately held Russian investment group Summa. Russia is poised to become one of the world's top three wheat exporters this year.