Shree Renuka to acquire Brazilian co. for USD 82 Million
November 11, 2009 – 5:38 am | 18 views
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Shree Renuka Sugars (SRSL) has entered into definitive agreement for the acquisition of VALE DO (VDI), a Brazilian sugar and ethanol production company.
The enterprise value of VDI is USD 240 million. SRSL shall acquire 100% equity capital of VDI for approx. USD 82 million and the balance is the assumed debt which is to be repaid over 8 years.
The acquisition includes two sugar and ethanol production facilities located in the southern state of Parana with a combined cane crushing capacity of 3.1 million tons per annum.
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