ScovilleUnits
12 years ago
IPSU..Enters Agreement to Sell Investment in Wholesome Sweeteners
Wednesday, March 07, 2012 20:00ET
SUGAR LAND, Texas--(BUSINESS WIRE)-- Imperial Sugar Company (NASDAQ:IPSU) announced today that it had entered into a definitive agreement to sell its 50% interest in Wholesome Sweeteners, Inc. to an affiliate of Arlon Group, a private investment group focused on food and agriculture. Imperial's net proceeds from the sale are estimated to be between $55 million to $60 million cash, subject to adjustment based on Wholesome's working capital and revolving credit borrowings at the time of closing. Closing of the transaction, which is subject to consummation of the buyer's debt financing, customary regulatory approvals and certain other closing conditions, is expected to occur in April 2012. Imperial expects to report a gain of $35 million to $40 million upon completion of the sale.
Wholesome Sweeteners is the leading provider of organic and fair trade certified sweeteners in North America. The company, which was formed in 2001, is a 50/50 joint venture between Imperial and Edward Billington and Son, Limited of Liverpool, England.
Frankiy
12 years ago
LONDON, Feb 03, 2012 (Dow Jones Commodities News via Comtex) -- Sugar prices are "condemned" to go lower and stay there for some time because of the extent of the global supply surplus, Marex Spectron said Friday.
The commodities brokerage said the surplus is now so big that in order to get rid of it, prices need to fall below the ethanol parity level at 20.5c/lb and the market has to go into a carrying charge, which means lower prices.
Raw sugar for March delivery on ICE is currently trading at 23.79c/lb.
The brokerage said that another bearish factor is the increasing realization that the Centre South Brazil cane crop next year could see a massive increase in production, with acreage planted to cane up by around 3%, while weather conditions are also anticipated to remain good.
Marex also said that production in India is likely to hit around 25.5 million tons, around 1 million tons ahead of last year, with yields down in Maharashtra but up in Uttar Pradesh.
-By Michael Haddon, Dow Jones Newswires; 4420-7842-9289; michael.haddon@dowjones.com
(END) Dow Jones Newswires
02-03-12 1105ET
RonnieD
13 years ago
earnings are going to be very bad, but they are also
old news, (quarter ending Sept 30). unless you're into
fast trading it, the conservative thing to do would be
to wait for the upcoming conference call, which doesn't
have a date yet, except that it will occur by Dec 29th.
i made more in-depth comments on the yahoo finance board
where i post as snowball.
http://messages.finance.yahoo.com/mb/IPSU