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News Breaks
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December 16, 2011
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| 17:53 EDT |  | IPSU |
| theflyonthewall.com: | Imperial Sugar sells Louisiana sugar refining joint venture interest | | Imperial Sugar announced that it sold its one-third joint venture interest in Louisiana Sugar Refining to its partners in the joint venture. The company chose to sell its LSR interest and certain idle Louisiana real estate parcels, rather than make additional capital contributions needed by the venture. The purchase price of $18M includes $14.2M of cash at closing, with the remaining $3.8M payable over a 21-month period. The company will continue to operate its small bag packaging facility in Gramercy with refined sugar purchased from LSR under an amended supply agreement with a minimum five-year term. :theflyonthewall.com |
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