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This is an archive article published on June 3, 2010

Shree Renuka’s Brazil takeover in trouble?

India's sugar major,Shree Renuka is saying it is renegotiating a deal to buy a Brazilian company.

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Just months after saying it will be buying a majority stake in a Brazilian company,India’s Shree Renuka Sugars Ltd said on Thursday it is renegotiating the deal.

Renuka was looking acquire a 51 percent stake in Brazil’s Equipav S.A. Acucar e Alcool.

The company had said in February that it had signed a definitive agreement to acquire the controlling stake in the Brazilian company.

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