Italy's MONTEDISON has launched a massive restructuring programme aiming to refocus activities on European electricity and gas and will be taking the name of the energy generator EDISON. The restructuring plan incorporates the merger of MONTEDISON and ITALENERGIA in EDISON (the group's new name), 38.6% of which will be held by FIAT, 18% by EDF, 20% by Carlo Tassara and 23.4% by the INTESA, UNICREDITO and INTESABCI banks. Other parts of the programme involve MONTEDISON: 1) selling its interests held by ERIDANIA-BEGHIN SAY which is divided into four companies (MONTEDISON holds a 54% stake in each); 2) selling the chemical companies AUSIMONT and ANTIBIOTICOS and the engineering company TECNIMONT. The latter will be sold to FALCK, another MONTEDISON subsidiary for between EUR 250 and 300 million; 3) acquiring 73.7% of the SONDEL energy company from FALCK, along with FALCK's 2% share in the telecommunications company IPSE. Together, these transactions are expected to reduce the group's debt from EUR 13.2 billion to EUR 6.8 billion by the end of 2002 and to EUR 5 billion by the end of 2006. The US food giant CARGILL has bought a 56% share in CERESTAR from MONTEDISON. CERESTAR is Europe's leading starch company (and Number 2 in the US) for EUR 474 million. CARGILL wants to take over CERESTAR and will be putting in a bid to this effect.