Exclusive-Tereos to exit malt business, eyes Romanian sugar unit closure

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Reuters UK

By Sybille de La Hamaide PARIS (Reuters) – Tereos, the French sugar and ethanol group, has sealed an agreement with grain cooperative Axereal to sell its stake in their malt business and is consulting unions on a plan to close its sugar activities in Romania, it said in a document to investors. Tereos, the world’s second largest sugar producer by volume, has undertaken a wide ranging review of its businesses after a top management reshuffle in late 2020. The new team, which had expressed concern about the group’s high debts, made deleveraging one of its top priorities. In September, Tereos ann…

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