Building products and sugar business CSR Ltd
(ASX:CSR) says it has agreed with ASIC to hold the first court hearing into its proposed demerger of its Sugar and Renewable Energy business on January 29.
The company says it continues to target implementation of the demerger on schedule after rejecting an offer from China’s Bright Food Group to acquire the business.
CSR says its board is committed to the demerger proposal and believes it is in the best interests of shareholders.
CSR says it has also given proper consideration to the company’s future asbestos liabilities in developing its demerger proposal.
CSR reported a loss of $326.5 million for the 12 months to March 30, 2009.
