“Since the sale is affected at this time of the calendar year, when the working capital of Danisco Sugar is at the highest level, the official transfer amount will be increased,” explained the company.
A loan of around DKK 510m will be supplied to Nordzucker with an annual interest rate of 4%. Once the transfer has been completed, a stock exchange notice with additional details, such as accounting impact information, will be issued.
In February, the German competition authorities, the Bundeskartellamt, granted a final approval of Nordzucker’s acquisition of Danisco Sugar, which included the sale of Danisco’s German-based sugar and bioethanol plant in Anklam to Suiker Unie, a member of Royal Cosun.
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