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Mauritius sugar producers consider merger


Monday, 14 September 2009

Mauritius sugar producers consider merger

Two of Mauritius' leading sugar producers listed on the Indian Ocean island's benchmark SEMDEX index announced they may merge within five months. Mauritius' sugar sector, a centuries-old pillar of the palm-fringed island's economy, has suffered as the European Union has cut its guaranteed price offered to exporters from the African, Caribbean and Pacific (ACP) bloc. In separate cautionary announcements issued to shareholders, Harel Freres Limited and the Mount Sugar Estates Company Limited set January 2010 as the tentative date for the completion of the merger.

Source: Flex News