CSR Limited advises that it has today confirmed with Mackay Sugar the expiry of the original agreement to acquire Mackay Sugar’s 25% shareholding in the joint venture Sugar Refining businesses (Sugar Australia and New Zealand Sugar). CSR’s Sugar business, Sucrogen, owns 75% of the joint venture.

The expiry follows the failure of the conditions precedent being met within the agreed timeframe.

As outlined at its recent full-year results presentation, CSR continues to progress the separation of Sucrogen from its Building Products, Aluminium and Property business.