Z&S Zucker und Staerke increases stake in Agrana -Suedzucker

FRANKFURT Tue Feb 25, 2014 4:00pm EST

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FRANKFURT Feb 25 (Reuters) - Z&S Zucker und Staerke, a joint venture of Germany's Suedzucker and Zucker Beteiligungsgesellschaft, has increased its stake in Austrian sugar, starch and fruit group Agrana, Suedzucker said in a statement on Tuesday.

Z&S has bought a 10.6 percent stake from Prudential Plc , bringing increasing its total share in Agrana to 86.1 percent of voting rights, it said.

In addition, Suedzucker directly acquired a 5 percent stake, which it said would be placed on the market subsequently to increase the free float and liquidity of Agrana.

Agrana in September reported a 24 percent drop in its first-half operating profit to 108 million euros ($148.32 million) due to higher commodity prices.