November 12, 2007 (RWE via COMTEX) – Mission Biofuels (ASX:MBT) through its Mauritian subsidiary, Mission Agro Energy, will acquire a further stake in Mission Biofuels India. The acquisition of the shares of Indian Agribusiness Systems will increase the stake to 90 per cent from 70pc.
This is the company that Mission is using to develop its upstream feedstock business in the production and procurement of Jatropha seeds and oil.
The acquisition is subject to Indian authorities approval. It is expected to positively contribute to earnings in FY08.