Australian conglomerate CSR has rejected an offer from China’s Bright Food Group to acquire its sugar and renewable energy business.

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In a statement to the Australian stock exchange, CSR said that it continued to favour a demerger of its sugar operations over a sale in order to “maximise shareholder value”.


“The board is of the opinion that the demerger is in the best interests of shareholders,” CSR insisted.


However, the company added that it would continue to monitor Bright Food’s approach.

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