Australian group CSR has agreed to sell its sugar unit Sucrogen for US$1.47bn to Singapore-based Wilmar International. The acquisition marks a year-long effort by CSR to sell the division to allow it to focus on its building products business. The sale is subject to Foreign Investment Review Board approval, Overseas Investment Office (NZ) approval and other customary sale conditions. The deal is expected to conclude before the last quarter of 2010.

source: just-food.com