FERRUZZI MAY FLOAT UP TO 49 PCT OF PARIS UNIT

  Gruppo Ferruzzi is studying a
  project which could result in a public share offer of up to 49
  pct of its French unit European Sugar (France) and could raise
  around 400 mln dlrs, Ferruzzi chairman Raul Gardini said.
      Gardini told Reuters the operation under consideration was
  aimed at "international markets" and that the figure of 400 mln
  dlrs given in some press reports "was probably about right."
      European Sugar, wholly-owned by Ferruzzi unit Eridania
  Zuccherifici Nazionali SpA, is expected to absorb the European
  corn wet milling business of CPC International Inc which
  Ferruzzi recently agreed to buy.
      Ferruzzi announced last week it had agreed in principle to
  buy the CPC operation for 630 mln dlrs.
      A Ferruzzi spokesman later confirmed that the group was
  studying the transfer of the CPC business to European Sugar
  along with a possible share offering in the Paris unit, but
  gave no details.
      The flotation plan has been interpreted by financial
  analysts as a means of helping finance the acquisition of the
  CPC business.
  

