Brits Eye CSR’s Sugar Spin-Off

Associated British Foods has amassed a sizeable war chest to make a potential bid for soon-to-be-demerged sugar business by Australia’s CSR after selling its Polish sugar operation for an estimated £250 million ($497 million), according to media reports today.

Associated British Foods, which owns a suite of food companies including British Sugar, is considered a frontrunner among international players to strike an investment in CSR Sugar, or bid for the entire operation outright.

As part of the demerger process to separate sugar from CSR’s other operations, consisting of building materials and aluminium, the CSR board is seeking to attract an investor to take up a stake of about 25 per cent in the newly created CSR Sugar.

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