Building products and sugar business CSR Ltd
(ASX:CSR) has again rejected the advances of China’s Bright Food Group to acquire its sugar and renewable energy business for $1.5 billion.
The company says it is only willing to progress alternative transactions to the demerger if they have a sufficiently high degree of certainty as to value, timing and likelihood of completion.
CSR says it remains committed to progressing its demerger proposal and has reconfirmed that commitment to Bright Food Group.
CSR posted a loss of $326.5 million for the 12 months to March 2009.
