Shree Renuka negotiating with Castlelake LP to sell Revati mill

In Brazil, Reuters reports that Shree Renuka is getting closer to offloading its Revati sugarcane mill, potentially to US-based private equity firm Castlelake LP with whom it’s currently in negotiations. The firm is already in discussions with potential cane suppliers to ensure sufficient feedstock should it move forward with a formal offer to purchase the mill. That offer could come as soon as March if negotiations with cane suppliers are successful but the company wants Renuka to close its Madhu mills to reduce competition for cane and Renuka doesn’t seem keen on the idea.