Italian chemicals and bioplastics group Mossi Ghisolfi is mulling over the possibility of selling its local biofuels operations, an informed source told Reuters.

The group has picked Mediobanca to manage the sale process, which has drawn interest from a series of private equity and industrial players, according to the report. A decision on the potential sale, which would be part of a restructuring process, has not yet been made, the insider has added.

Mossi Ghisolfi is controlled by M&G Finanziaria, in turn owned by the Ghisolfi family. M&G Finanziaria holds the operations of Beta Renewables, a non-food biomass company that produces advanced biofuels and biochemical compounds.

Beta Renewables was set up in late 2011 out of a joint venture between Mossi Ghisolfi’s Biochemtex and US buyout firm TPG. It runs a facility in Crescentino that is the world’s first to produce second-generation ethanol, according to information on the company’s website.

Article by Renewables Now: Mossi Ghisolfi ponders sale of biofuels operations in Italy - report