Shree Renuka Slumps on Fears of Equity Dilution after Wilmar Deal - The New Indian Express

Shree Renuka Slumps on Fears of Equity Dilution after Wilmar Deal

Published: 21st February 2014 10:42 AM

Last Updated: 21st February 2014 10:42 AM

Shares of India's Shree Renuka Sugars slumped 10 percent in pre-open trading on fears of equity dilution after Singapore's Wilmar International said on Thursday it has agreed to invest up to $145 million for a major stake in the company.

The transaction, which will be completed in multiple steps, will see Wilmar - the world's top palm oil processor with business interests in sugar, lauric oils and other commodities - and the founders of the Indian company owning equal stakes in Shree Renuka.

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