CSR has asked for more time to show the Federal Court that its plans to separate its sugar business into an independent company won't hurt its ability to pay compensation to people poisoned by its asbestos products.
The building materials maker expects to appear in court next week. CSR said it needed more time for talks with the Australian Securities and Investments Commission before seeking court permission to spin off its sugar business, The Australian Financial Review reports.
If approved, the split would happen as scheduled by late March, CSR said.
The development is the latest in a big week for CSR, which received a surprise $1.5 billion conditional offer from China's Bright Food for its sugar and renewable energy business.
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