WLMIY Wilmar International Ltd (PK)

Czarnikow said Monday that Macquarie Group Ltd. (MQG.AU) has acquired Wilmar International Ltd.'s (F34.SG) 42.5% stake in the sugar tradehouse, with the transaction expected to be completed early in the third quarter.

"The sugar market has robust fundamentals with excellent long-term growth prospects," said Robin Cave, chief executive officer of Czarnikow. "We are confident that the new shareholding structure will support the future growth of Czarnikow, for the benefit of our clients and employees."

Czarnikow added that the new shareholding structure would have no impact on its day-to-day operations, while Macquarie's involvement will bring significant expertise in agricultural risk management.

"We are a global leader in trading and price risk management of sugar and have a deep understanding of the dynamics of the market," said Sebastian Barrack, head of Macquarie's metals and agricultural sales and trading division. "We look forward to working alongside the board and management to share our complementary skills and strengthen Czarnikow's leading role in the global sugar markets."

Czarnikow said Macquarie will work with its management and co-shareholders British Sugar, a unit of Associated British Foods Plc. (ABF.LN), to support the company's growth and future development.

"Macquarie's expertise in agricultural risk management is a natural fit and we look forward to working with both Macquarie and Czarnikow's management on the next stage of the company's development," said Mark Carr, group chief executive of British Sugar.

-By Michael Haddon, Dow Jones Newswires; 4420-7842-9289; michael.haddon@dowjones.com

Grafico Azioni Wilmar (PK) (USOTC:WLMIY)
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Grafico Azioni Wilmar (PK) (USOTC:WLMIY)
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