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

by Mike Robinson

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© Reuters. FILEPHOTO: This view depicts a logo located at the entry to the Tereos Sugar Factory in Escaudoeuvres. France, June 1, 2021. REUTERS/Pascal Rossignol

PARIS, (Reuters) – Tereos is a French sugar and ethanol business that has reached an agreement to sell its share in Axereal’s malt company. The group also consults unions to develop a plan to end its sugar activities in Romania.

Tereos has completed a comprehensive review of its business after an extensive management reshuffle that took place in 2020. After expressing concern over the high level of debt of the company, the new management team made deleveraging one its highest priorities.

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