CSR

Wilmar to buy the CSR’s sugar Unit

Wilmar to buy the CSR’s sugar Unit

Singapore base agribusiness group Wilmar International Ltd. has informed that it has decided to buy Australian conglomerate CSR Ltd.'s sugar and renewable energy industry, Sucrogen. It has also represented the financial details of this deal.

As per Wilmar International, it will purchase the CSR's sugar Unit for $1.48 billion. Wilmar's offer price includes 1.35 billion Australian dollar in shares and 403 million in net balance. Sucrogen is the biggest Australian raw sugar manufacturer and the second biggest exporter globally.

Court approves the appeal of CSR for demerger

Court approves the appeal of CSR for demerger

CSR Ltd., the biggest sugar milling company in Australia, has now no hurdle in its plan to spin off its sugar unit. A Sydney Federal Court approved today the appeal of CSR.

The decision of the court will allow the shareholders of CSR to vote on a proposed demerger as it is considering a takeover offer worth $A1.75 billion from China's Bright Food Group Co.

Earlier in February, a lower court had blocked CSR's proposed demerger.