Suedzucker to take unit CropEnergies private

CropEnergies AG

20/12/2023 07:30

Dec 20 (Reuters) - Suedzucker  SZUG.DE  plans to delist
its biofuel subsidiary CropEnergies  CE2G.DE , Europe's largest
sugar refiner said in a statement released late on Tuesday.
    Suedzucker, which currently owns 74.06% of CropEnergies,
offered 11.5 euros per share for the remaining stake,
corresponding to a premium of 69.4% over the 6.7 euro share
price seen at the market close on December 18. 
    CropEnergies' board said it supported the delisting and
would apply for revocation of shares from trading on the
Frankfurt stock exchange. 
    The decision is in line with Suedzucker's 2026 PLUS growth
strategy which focuses on bio-based chemicals, it added. 
    
     

 (Reporting by Olaf Brenner; writing by Andrey Sychev; editing
by Jason Neely)
 ((andrey.sychev@thomsonreuters.com;))