Cosun has agreed to buy part of Danisco Sugar business to satisfy antitrust conditions on the transaction, but Nordzucker and Danisco are today in discussions over the final price.
The Danisco deal to spin-off of its sugar arm to Germany's Nordzucker faces delays after German competition authorities take their review into a second phase, opting to investigate the €750m takeover further.
A decade of structural changes have helped Danisco position itself as “first choice” for customers, suppliers, business partners and employers, its chairman has said.
Danisco has announced that it will sell its sugar division to
Nordzucker for DKK5600m, around €751m, bringing to an end months of
speculation as to whether it would agree to a sale or opt to spin
off sugar into a separate business.
Danisco is bringing forward plans to spin-off or sell-off its sugar
operations to the end of this year due to a better outlook for the
European sugar industry.
Danisco has said it will reduce its sugar quota by more than 10 per
cent following sugar reform proposals agreed by EU agriculture
ministers, and being stung with levy charges of some €20m.
Sweeping changes to Europe's subsidised sugar regime announced
yesterday will see sugar prices cut by 39 per cent paid to
companies that include sugar and sweetener suppliers Danisco and
Tate and Lyle, but will bring price relief...
Top ingredients supplier Danisco will phase out its activities in
oil and protein crops in order to focus on sugar beet seed, said
the Danish firm this week, in a move reflecting changes to the
European sugar regime in 2006 that will...
Scientists in Denmark are to investigate whether a radical
suggestion from the US about turning the 'food pyramid' on its head
- and therefore eating more foods such as rice and bread than is
traditionally considered healthy...
Danish ingredients company Danisco Sugar said this week that it
expects an overall production considerably above the quotas
specified by the EU and on a par with production in recent record
years.
Despite a reduction in sugar beet acreage - a move designed to cut
the amount of sugar on the world market - Danisco expects this
year's harvest to be above average due to 'exceptionally favourable
weather conditions in...
Danisco Sugar expects an overall production considerably above the
quotas specified by the EU, the Danish ingredients company reports
this week. However, the final allocation of this year's quotas will
not be made until the...
