USA: Cargill to take control of Turkish starch producer via Cerestar acquisition
US agribusiness group Cargill is slated to take a 56% stake in Turkish starch manufacturer Pendik Nisasta. Cargill plans to acquire UK starch and sweetener producer Cerestar, which holds a 50% stake in Pendik Nisasta. The remaining 50% is held by Turkey’s Ulker, Cerestar’s joint venture partner.
Cargill plans to acquire UK starch and sweetener producer Cerestar, which holds a 50% stake in Pendik Nisasta. The remaining 50% is held by Turkey’s Ulker, Cerestar’s joint venture partner.
The sale of the majority stake in Cerestar to Cargill has yet to be finalised, but is expected to complete within two months.
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