CSM plans to sell Sugar Division to Cosun

CSM announces that negotiations with Cosun on the sale of the CSM Sugar Division have progressed so well that a definitive agreement is anticipated. The selling price will be determined on the basis of the balance sheet as at 30 September 2006. The working capital as at that date is expected to amount to only EUR 3.6 million compared to an annual average of approximately EUR 45 million. Given the low working capital as at 30 September 2006 the provisional selling price has been set at EUR 202 million. The Breda real estate is excluded from the transaction. CSM expects to complete the transaction in the fourth quarter of 2006.                

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