International Sugar Journal

Philippines – Roxas sells its sugar mill to Tanduay [Full subscriber]

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.

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Australia – Mackay Sugar’s shareholders approve takeover by Nordzucker [Full subscriber]

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.

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Australia – Almoiz Group aiming to secure a majority stake in Isis Central Sugar Mill [Registered]

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. 

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Australia – Nordzucker purchase of Mackay Sugar needs to traverse one hurdle [Full subscriber]

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.

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Australia – Nordzucker to acquire 70% stake in Mackay Sugar [Full subscriber]

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.

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Talks ongoing on bid by Nordzucker for Mackay Sugar [Full subscriber]

Nordzucker is in talks to buy Australian producer Mackay Sugar, according to a Nordzucker spokesperson.

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Bunge sells its sugar trading operations to Wilmar [Full subscriber]

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.

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Philippines – Universal Robina Corp to acquire Roxas Holdings’ sugar mill [Full subscriber]

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.

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Australia – Mackay Sugar likely to be bailed out by a major global sugar company [Registered]

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.

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India – Adani Group may acquire Shree Renuka Sugars [Full subscriber]

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.

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