- Reuters•3 years ago
MUMBAI/NEW YORK, Feb 20 (Reuters) - Singapore's Wilmar International said on Thursday it has agreed to invest up to $145 million for a major stake in India's Shree Renuka Sugars, which will give a sugar upstart a foothold in the biggest consuming nation. The transaction, which will be completed in multiple steps, will see Wilmar - the world's top palm oil processor with business interests in sugar, lauric oils and other commodities - and the founders of the Indian company owning equal stakes in Shree Renuka. While the value of the deal is relatively small compared with multi-billion dollar deals seen across the industry over the past decade, it is Wilmar's third big move to grow in sugar in four years and expands its geographic footprint. Buying a stake in Shree Renuka marks its first foray into the world's top sugar producers, Brazil and India, amid burgeoning demand in emerging economies.
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Shree Renuka Sugars Limited (RENUKA.NS)
NSE - NSE Delayed Price. Currency in INR
|Day's Range||15.90 - 16.40|
|52wk Range||7.10 - 19.15|
|1y Target Est||N/A|
|P/E Ratio (ttm)||-0.82|
|Avg Vol (3m)||9,619,809|
|Dividend & Yield||N/A (N/A)|