3rd Feb 2015 07:26
LONDON (Alliance News) - Associated British Foods PLC Tuesday said it will write down its investment in wheat-fed bioethanol joint venture Vivergo Fuels Ltd, and will book an exceptional charge of GBP98 million in its first-half results as a result.
The joint venture is with BP and DuPont in the UK. It has been hit by the steep fall in crude oil and bioethanol prices, and the further weakening of the euro against sterling.
By Steve McGrath; [email protected]; @stevemcgrath1
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