Shree Renuka Sugars Ltd said it completed a revised agreement to acquire a controlling stake in Brazil-based Equipav SA Acucar e Alcool.
As per the new terms, the Renuka Sugars shall invest Rs45 crore in Eqipav leading to a majority, controlling stake of 50.34%. Equipav AA consists of sugar and ethanol mills with integrated co-generation facilities at Sao Paulo in Southeast Brazil. The mills have a combined cane crushing capacity of 10.5 million tons of cane per annum.
On Wednesday, Shree Renuka Sugars ended 1.1% down at Rs68 on the Bombay Stock Exchange, while the benchmark Sensex closed 0.04% up at 17,755 points.
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