Corbion has reached an agreement with the municipality of Breda and the province Noord-Brabant to sell a plot of land in the city where its predecessor CSM used to operate a sugar factory. The agreed purchase price amounts to € 21.9 million. The transaction is still subject to approval by the local council of Breda and the provincial executive of Noord-Brabant.
When CSM sold its sugar activities in 2007, the sugar factory in Breda was no longer active and not part of that transaction. It was subsequently demolished in 2010, leaving the plot of 26,4 hectares near the city center empty. For Corbion there were no development opportunities in this area, so it has been in talks with the municipality to discuss alternative use of this land and a sale.
CFO Eddy van Rhede: “We are pleased that we have reached this transaction in close consultation with the municipality of Breda. The plot dates back to the rich history of our predecessor CSM, the largest Dutch sugar producer at the time. This is our definitive farewell to Breda, in full confidence that the municipality and the province of Noord-Brabant will jointly give this area a new and important destination, with a mix of private housing, economic activity and leisure.”
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