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Shree Renuka Sugars‘ board has decided to sell the Brazilian operations of the company.
In a BSE filing the company stated, “The board of directors, at its meeting held today i.e. on 6th April, 2018, has decided that the Brazilian operations of the company would be divested in due course subject to any necessary approvals.”
Furthermore, it stated that, it plans to sale one production unit (Sugar Mill) in due course subject to any necessary approvals and the other unit being kept closed, with an option to the buyer of the first unit to purchase the same within three years.
