CSR $2.3b sale going ahead

New Zealand regulators have given the nod to the sale of CSR's sugar and energy business, Sucrogen, to Asianagribusiness Wilmar International for A$1.75 billion ($2.3 billion).

CSR said yesterday that New Zealand's Overseas Investment Office had approved Wilmar's application for the proposed acquisition. "No further regulatory approvals are required for the transaction to proceed and CSR expects the sale to be completed on December 22, 2010."