Südzucker AG

M&A Activity • Dec 20, 2001

News Details

Ad-hoc | 20 December 2001 15:02

Südzucker AG english

Südzucker’s acquisition of Saint Louis Sucre approved by EU Ad-hoc-announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Südzucker’s acquisition of Saint Louis Sucre approved by EU On December 20th the EU Commission has approved the acquisition of the second largest French sugar producer Saint Louis Sucre by the Belgian Südzucker subsidiary Raffinerie Tirlemontoise. The approval is made under the condition to sell the 68% stake in the Belgian sugar factory Veurne (around 60.000t quota sugar) and to transfer the distribution of 90.000t sugar in Germany to third parties. Thus Südzucker can proceed to realize the opportunities given by the Saint Louis Sucre acquisition. Saint Louis Sucre, which is one of the most efficient EU sugar companies, has 5 sugar plants. Besides, Saint Louis Sucre has other attractive business areas and participations fitting perfectly to Südzucker’s activities. Among these are the raw sugar raffination and the bioethanol production in France, a 13,8% stake in the biggest Spanish sugar producer Ebro Puleva and the sugar production in Eastern Europe. With this acquisition Südzucker within one year has successfully completed the refocus on the core business with further growth opportunities. In the sugar campaign 2001/02 the Südzucker Group together with Saint Louis Sucre expects a production of 4.480.000 t (previous year 3.491.000t) sugar. end of ad-hoc-announcement (c)DGAP 20.12.2001 ——————————————————————————– WKN: 729700; ISIN: DE0007297004; Index: MDAX Listed: Amtlicher Handel in Berlin, Düsseldorf, Frankfurt, Hamburg, München und Stuttgart; Freiverkehr in Hannover 201502 Dez 01