Pfeifer und Langen completes purchase of sugar group

German sugar company Pfeifer und Langen (PuL) has finalized the purchase of a majority stake in the Kalisko-Koninska group of sugar mills, the company's representative in Poland, Janusz Pierun, told the Polish Press Agency (PAP) yesterday. While declining to disclose the amount paid by PuL for the 51% stake in the group, Pierun did reveal that PuL had assessed the five sugar mills' combined debt as zl.235 million. Under the privatization agreement, PuL is committed to investing a further zl.75 million in the Kalisko-Koninska group. The completion of the purchase brings the number of sugar mills owned by PuL in Poland to 11. The company is now the country's second biggest sugar producer, with a total market share of around 16% and the capacity to sell 250,000 tons of sugar domestically. (Prawo i Gospodarka, p. 4) K.K.