French sugar producer Tereos has reached an agreement with the grain cooperative Axereal to sell its stake in their malt business and is in consultation with unions to close its sugar business in Romania.
Tereos vows to press ahead to cut debts as it seeks to divest from ventures in China and Romania [Full subscriber]
Top sugar producer Tereos is going to press ahead with plans to cut its debts and improve its results, as it posted an annual net loss which reflected the impact of asset depreciation, reported Reuters.
The Vietnamese government is planning to fully divest from sugar mills by the end of this year, according to local press reports. The government hopes this will drive the competitiveness of the sugar industry.
ADM will sell a sugarcane plantation and an ethanol distillery in Limeira do Oeste, Minas Gerais state to JFLim Participações S.A. Financial terms were not disclosed.
The company, whose $125 bln of debt is the biggest of any oil company, looks to recover from the on-going corruption scandal, which saw many of its executives, and various Brazilian politicians resign from their positions, plans to sell as much as $13.7 bln of assets by the end of 2016.