CSR Shareholders to Vote for Possible Demerger

CSR has been allowed to have their shareholders vote on the company's bid on splitting up and demerging the company's sugar business. The full bench of the Federal court, The Chief Justice, Patrick Keane, and Justices Ray Finkelstein and Peter Jacobson, upheld CSR's appeal. CSR's demerger proposal can now be put to the shareholders for a vote.

CSR shares had been placed in a trading halt pending the court ruling; upon which CSR has won their appeal against a ruling by Justice Margaret Stone that the demerger offended "public policy and commercial morality" because of its potential impact on asbestos compensation in February. CSR mined and manufactured asbestos until 1966 and 1977 respectively. China's Bright Food Group has made a $1.75 billion takeover bid for Sucrogen, CSR's sugar arm as well as it's renewable energy business.