Wilmar to make additional investment in Shree Renuka Sugars

SINGAPORE (July 28): Wilmar International is planning to make an additional investment of roughly $163 million in Shree Renuka Sugars of India which is restructuring its debts.

Wilmar's 100% subsidiary Wilmar Sugar Holdings has agreed to subscribe to 481.8 million non-voting compulsorily convertible preference shares to be issued by Shree Renuka at the price of INR16.27 (34.4 cents) each.

In 2014, Wilmar acquired a strategic stake in Shree Renuka, a company incorporated in India and listed on the National Stock Exchange of India and BSE.

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