Australia’s CSR to spin off sugar, ethanol, power entity

In Australia, CSR announced that it intends to split into two entities, with a new spin-off focused on the company’s operations in sugar, ethanol and electricity. The company said that it would raise $375 in a rights issue to provide full capitalization to the new sugar and ethanol entity, which has not been named.

The company also announced a 22 percent rise in earnings, primarily on the spike in global sugar prices. The de-merger will officially take place in March.

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