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Mexico sells last two sugar factories in state hands

 

 

The Mexican government sold on Friday two sugar factories for 3.398 billion pesos (182.71 million dollars) to Beta San Miguel Group, which concluded a long process to privatize sugar mills.

 

Plants El Potrero and San Miguelito, both in the state of Veracruz, the largest producer of sugar in the country, were awarded to Grupo Beta San Miguel, one of the leading sugar groups in Mexico, in a public tender.

 

Factories sold on Friday are part of a group of nine that the government alienated in the past two years and with this the production of the sweetener will be completely in private hands.

 

($ 1 = 18.5980 Mexican pesos)

 

Reuters

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