Sugar, building products and aluminium group CSR has emerged as the favorite in the battle for auto and building glass manufacturer Pilkington Australia, ahead of Fletcher Building-CHAMP and Pacific E…
Sugar, building products and aluminium group CSR has emerged as the favorite in the battle for auto and building glass manufacturer Pilkington Australia, ahead of Fletcher Building-CHAMP and Pacific Equity Partners-DMS Glass. However, CSR faces the question of how to fund the transaction, with the price likely to exceed AUD 700 million. There is concern over the technology licensing arrangements that Pilkington owner Nippon Sheet Glass wishes to impose on the successful bidder, under which Nippon-Pilkington would be able to withdraw its technology licences if a competitor bought CSR shares.