Poland’s treasury ministry has said that it has given final approval to sell 95% in the country’s largest sugar group to France’s Saint-Louis Sucre.
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Poland has held up the sale of the Slaska Spolka Cukrowa group to SLS, saying the French group had not obtained land purchase permits. The government eventually gave in to a court ruling that it had no legal grounds to block the sale, reported Reuters.
SLS, which was acquired by Germany’s Suedzucker in 2001, agreed more than two years ago to pay 250.5m zlotys (US$61.6m) for Slaska, including 16 refineries that together produce 300,000 tonnes of sugar per year.
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