LIMA, April 28: The auction of about 80 per cent each of two Peruvian sugar cooperatives by the cooperatives' workers may be delayed so that bidders can have more time to evaluate their proposals, an official associated with the sales said Friday.The stake in Casagrande had been scheduled for auction May 3, while the stake in Laredo had been scheduled for auction May 4. Daniel Oblitas, an official with Banco Continental (E.BCN), which is advising the workers on the sales, said that Mexico-based sugar producer Beta San Miguel, one of the potential bidders, presented a letter requesting a delay - and Colombia-based bidders Ardila Lule and Manuelita are expected to follow suit.
Oblitas said the workers will decide on the delay request next week. The workers became owners of the facilities during Peru's land reform movement of the 1970s.
Casagrande, the largest of the cooperatives, is valued at 528.1 million Peruvian Nuevos Soles (PEN).
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
