13 December 2024
FIRB throws up ‘expected’ delay to Sucrogen sale
CSR Limited announced yesterday that the sale of Sucrogen to Singaporean food giant Wilmar International would be delayed, with the Foreign Investment Review Board issuing an interim order extending the review by up to 90 days due to the timing of the Federal election.
Wilmar International made a successful bid for Sucrogen at $1.75 billion, trumping China’s Bright Food Group’s conditional offer at the same price. The third option, a demerger, was also ruled out by CSR, despite their successfully appealing a court decision that would have blocked the move.
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