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Temasek, Unigrains take stake in malt producer Boortmalt

Reuters Published on Thu, Jul 06, 2017 / 9:02 AM GMT+8

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SINGAPORE (July 6): French cooperative Axereal said on Wednesday Singapore's state investor Temasek and French farmer-controlled investment fund Unigrains had taken a stake in its Boortmalt unit, the world's fifth largest malt producer, through a capital increase.

French sugar group Tereos, a minority shareholder in the Belgian-based malt producer, also contributed to the capital increase which totalled 150 million euros ($235 million), Axereal said in a statement.

The capital increase follows an announcement in February by Axereal, one of Europe's largest grain handlers, that it would build a malt processing factory in Ethiopia and a fourth production facility in Antwerp as it sought to tap into rising demand for beer in emerging markets.

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Temasek, Unigrains take stake in malt producer Boortmalt