Takeover of Serbian Sugar Producer Sunoko by Agrana on Hold

CompaniesRetail & Consumer ♦ Published: May 4, 2018; 19:30 ♦ (Vindobona)

The takeover of the Serbian sugar manufacturer Sunoko by the Austrian sugar, starch and fruit manufacturer Agrana has failed due to problems on the European sugar market.

Agrana Management Board (left to right): Fritz Gattermayer, Johann Marihart Stephan Büttner, Thomas Kölbl / Picture: © AGRANA Beteiligungs-AG

In a brief press release, the listed company Agrana Beteiligungs-AG informed that Agrana and Agri Europe Cyprus Ltd, Limassol, Cyprus agreed to place the negotiations on the acquisition of the Serbian sugar company Sunoko d.o.o., Novi Sad, Serbia, on hold.

According to press information, the reason for this is "the challenging European sugar market environment".