CSR denies Japanese interest in Sucrogen

Posted by Nicole Eckersley on 22nd April 2010

CSR has denied that there is interest from a Japanese consortium in its sugar business, Sucrogen, after a report in the Australian Financial Review yesterday suggested that a group including Mitsubishi and Mitsui had made a “soft approach” to the company.

CSR stated that it had “not received such an approach” and that it remained in talks with Chinese group Bright Foods for sale of the Sucrogen business.  The company has been approched twice by Bright Foods, but has held off on any sale in the hope that an appeal, to allow the preferred option of a demerger, will succeed.