Sugar and ethanol producer Roxas Holdings Inc.(RHI) agreed to accept the improved offer of Tanduay Distillers Inc. to purchase the former’s PHP6.5 billion (US$123.9 million) sugar mill and refining facilities in Nasugbu, Batangas.
Australia’s second-largest sugar milling company, Mackay Sugar Limited, has announced that a majority of its farmer-shareholders (75%) voted on 29th July in support of a takeover by Germany’s second-largest sugar producer Nordzucker AG. The farmers will retain a 30% shareholding in return for Nordzucker’s investment in the company.
Isis Central Sugar Mill has informed shareholders it’s exploring a partnership with Pakistani sugar company Almoiz Group after no wholly-owned Australian investors came forward.
The sale of one of Australia’s largest and last remaining grower-owned sugar milling company Mackay Sugar to Nordzucker has moved a step closer, with the State Government committing AU$14 million (US$9.7 million) lifeline to facilitate the closure of a deal.
Nordzucker and Mackay Sugar Limited have agreed by contract that Nordzucker will acquire a 70 percent majority stake in the sugar company. The confirmation was announced on the Nordzucker’s website and comes after months of deliberations.
Nordzucker is in talks to buy Australian producer Mackay Sugar, according to a Nordzucker spokesperson.
The US-headquartered agribusiness Bunge said on 23rd August that it has completed the sale of its international sugar trading operation to Wilmar Sugar in Singapore. The financial terms of the deal were not disclosed, according to Reuters.
Roxas Holdings Inc. (RHI), which is majority-owned by the First Pacific Group of Hong Kong, is selling its sugar milling and refining operations in Nasugbu, Batangas province to Universal Robina Corp (URC), according to local press reports.
Australia’s second-biggest sugar miller, Mackay Sugar, is nearing a comprehensive recapitalisation plan which would see a strategic investor take a stake in the company, according to the Australian Financial Review.
Amidst mounting losses, triggered by its misadventure in Brazil, Shree Renuka Sugars is likely to be acquired by the Adani Group from Wilmar Sugar Holdings through Adani Wilmar Ltd, according to a senior executive speaking to Live Mint.