Orgny-Naples, a consortium of French beet growers’ cooperatives, has announced that it has reached an agreement with Italian energy company Edison to acquire the latter’s 54% stake in French sugar manufacturer Béghin-Say.
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The consortium, which includes the Union SDA and Union BS cooperatives, are to buy the Béghin-Say shares at €37 (US$36.9) each, for a total of €513m.
The deal is subject to the finalisation of financing documentation and approval by the antitrust authorities, reported Dow Jones International News.
