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Mexico starts process to auction the last two sugar mills in state hands

 

The Government of Mexico began on Monday the bidding process for the last two sugar mills in state hands, with which it seeks to end the sale of these factories that were nationalized a decade ago.

In a notice published in the Official Journal of the Federation (DOF), the Management Service and Property Disposal said the base price of sale of the El Potrero and San Miguelito, in the state of Veracruz, units will be 1,390 million pesos (about 73.8 million dollars).

The opening of bids and the decision on the auction will be held on August 26, according to the announcement.

Veracruz, on the Gulf of Mexico, is the main sugar producing state in the country.

El Potrero and San Miguelito have 3.9 percent of the domestic sugar market, according to the SAE.

(Reuters)

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