Shree Renuka Sugar, reportedly is in advanced talks with Singapore-based agribusiness group, Wilmar International, for stake sale, in deal which is likely to be announced before month end. The company may issue fresh equity shares to Wilmar in a deal which is likely to trigger open offer.
Further, as per media reports promoters are trying hard to retain minority stake in company, which presently stands at 38.36%. Thus with this, If Wilmar, one of the world’s leading producers of palm oil, buys a majority stake in Shree Renuka, it will pave the way for its entry into important sugar markets, such as Brazil and India. Wilmar had set its foot in the sugar sector with its buyout of Australia’s Sucrogen. Since then, it has purchased mills and refiners in several countries, including Indonesia
Further, as per media reports promoters are trying hard to retain minority stake in company, which presently stands at 38.36%. Thus with this, If Wilmar, one of the world’s leading producers of palm oil, buys a majority stake in Shree Renuka, it will pave the way for its entry into important sugar markets, such as Brazil and India. Wilmar had set its foot in the sugar sector with its buyout of Australia’s Sucrogen. Since then, it has purchased mills and refiners in several countries, including Indonesia
No comments:
Post a Comment