Wilmar gets nod for Sucrogen buy - report

(ADPnews) - Nov 8, 2010 - Singapore-based palm oil producer Wilmar International Ltd (SIN:F34) got approval from Australian regulatory body Foreign Investment Review Board (FIRB) to complete the acquisition of Sucrogen -- the sugar unit of Australian firm CSR Ltd (ASX:CSR), local news service Business Spectator reported today.

However, the transaction still remains subject to approval from the Overseas Investment Office in New Zealand and other minor customary conditions.

CSR and Wilmar agreed on the acquisition already in July 2010. Price was fixed at AUD 1.75 billion (USD 1.76bn/EUR 1.27bn).

FIRB examines proposals by foreign people and companies to invest in Australia.

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