Bright In For CSR Sugar To Improve Resource Base

Leading Chinese dairy firm Bright Dairy has approached Australian building materials major CSR Ltd over the possible AUD1.5bn (US$1.39bn) acquisition of its sugar unit. CSR has labeled the approach only an 'expression of interest' and yet were it to proceed it would be in keeping with the Australian company's desire to spin off its sugar division in order to improve its focus on its building materials, aluminum and property assets. For Bright, the purchase would represent an opportunity to further expand its resource base and gain greater control over volatile-priced

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