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Regions :: Australia/New Zealand

Wilmar's Sucrogen Subsidiary Buys Proserpine Sugar

2:54 AM MDT | June 3, 2011 | Natasha Alperowicz

Wilmar International (Singapore) announced today that its Australian sugar subsidiary Sucrogen (Port Melbourne) has agreed to buy Proserpine Co-operative Sugar Milling Association (PCSMA), on a debt-free basis, for A$115 million ($122.7 million). The agreement is subject to approval of PCSMA members, the Australian Competition and Consumer Commission and the satisfaction of other customary conditions, Wilmar says. Sucrogen, the largest sugar producer and refiner in Australia and a player in renewable energy, currently...

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