Brazil's Cade rejects Bimbo's buyer for Nutrella, mandates open auction

Brazil's antitrust regulator, Cade, has rejected Bimbo's fourth proposed buyer for the Nutrella brand, forcing an open auction scheduled for Friday. The removal of M. Dias Branco from the bidding pool, combined with the lack of a minimum price, signals potential difficulty for Bimbo in divesting the asset under regulatory pressure.