Expiry of original agreement to acquire minority stake in sugar refining joint venture

CSR Limited advises that it has today confirmed with Mackay Sugar the expiry of the original agreement to acquire Mackay Sugar’s 25% shareholding in the joint venture Sugar Refining businesses (Sugar Australia and New Zealand Sugar). CSR’s Sugar business, Sucrogen, owns 75% of the joint venture.

The expiry follows the failure of the conditions precedent being met within the agreed timeframe.

As outlined at its recent full-year results presentation, CSR continues to progress the separation of Sucrogen from its Building Products, Aluminium and Property business.