Shree Renuka Sugars acquires Eqiupav Group in Brazil
4:15 PM Posted by ukmad
Belgaum based Shree Renuka Sugars is on a acquiring spree and today have finalized on a major second acquisition in Brazil of Eqiupav.
The deal is of the size of Rs.1500 crores and will be funded by internal accruals, warrants and debt.
It Outbid Hong Kong based Noble group in the deal.
Shree Renuka Sugars is a Belgaum based company with Murkumbi as its promoters with its registered office at Camp.
Source: Bloomberg
March 14, 2010 at 11:15 PM
Renuka is sure to fall as it is going to fund the acquisition through internal sources thus reducing the cash balances available with the company.