DuPont, Bunge Said to Seek Sale of Soy-Products Venture

DuPont Co. and Bunge Ltd. are seeking to sell Solae LLC, their joint venture that makes soy products used in foods such as cereal bars, infant formula and milk, said three people with knowledge of the matter.

Solae management this month began meeting with potential bidders, including private-equity funds and European strategic buyers, said two of the people, who asked not to be identified because the process is private. The sale may fetch about $1.4 billion to $1.75 billion based on Solae’s annual earnings of about $180 million before interest, tax, depreciation and amortization, two people said.