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Feb 22, 2010, 09.53 AM IST
Shares in Shree Renuka Sugars, India's biggest refiner, rose nearly 4% on Monday after it acquired a 51% stake in Brazil's Equipav SA Acucar e Alcool for $329 million.
The Brazilian firm, which holds the sugar and alcohol assets of Equipav Group, owns two large sugar mills with integrated co-generation facilities, in south eastern Brazil, Shree Renuka said in a statement on Sunday. The sugar mills have a combined annual cane-crushing capacity of 10.5 million tonne and a co-generation capacity of 203 megawatts (MW), it said. At 9.02 am, shares were up 1.9% at Rs 183.3 in a firm Mumbai market.
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