Japan’s biggest sugar producer Mitsui Sugar will take a 20% stake in Chinese refiner COFCO Sugar Liaoning, according to local press reports.
The sugar producer Mitsui Sugar Co. and trading house Mitsui & Co signed on 21st September, the Share Purchase Agreement (the “SPA”) with ED&F Man Holdings Limited to acquire 100% shares of SIS’88 Pte Ltd (“SIS”), which sells refined sugar in Singapore and the Middle East. Under the SPA, Mitsui Sugar and Mitsui will be acquiring 70.0% and 30.0% of SIS shares respectively, making SIS a consolidated subsidiary of Mitsui Sugar.
Mitsui & Co. and Mitsui Sugar which jointly operate the Kaset Phol Sugar (KSP) mill are investing JPY37 billion (US$335.4 mln) for the construction of new sugar refinery and warehouse, according to a recent press release.
Japan’s largest sugar processor Mitsui Sugar will soon start refining sugar that complies with Islamic dietary law, according to the Nikkei Asian Review.