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Kohinoor Mandal

KOLKATA, Jan. 27

SOCIETE JKingsman, one of the world's largest independent physical sugar brokerage companies, has purchased a significant stake in Milecourt Ltd, which has recently acquired sugaronline.com.

Following this development, the management of the UK-based Commodity Services Ltd, owners of sugaronline.com, has announced the establishment of a joint venture with the 12-year old Societe JKingsman. Moreover, the Web site of Societe JKingsman, jkingsman.com, will be merged with sugaronline.com.

`'Societe JKingsman provides brokerage services to the sugar trade and produces the widely respected Kingsman daily report with prices and trends in the world sugar market. With the merger of the Web site, sugaronline will be strengthened with more news and market analysis'', an official of sugaronline.com stated.

Sugaronline.com, which was recently acquired by the UK-based private venture capital Milecourt Ltd, was up for liquidation. The principal shareholder of Milecourt is Mr John Kinder, the former managing director of ED&F Man Sugar Ltd and also a former director of Man Group plc.

In a statement to the media, Mr Kinder said: ``The merger of the two companies' website will provide a central resource for data and analysis in all areas of the sugar industry. In addition it will cut costs and avoid duplication in developing the trading platforms and technical areas of the site.''

Launched in October 1999, sugaronline.com was formed with the merger of two specialised sugar businesses, Global Sugar Solutions Ltd and www.sugarinfo.co.uk. The sugarinfo site was operating from 1995.

Earlier, India's sugartrade.com, which is owned by a large section of the Indian sugar industry, was interested in buying the ''global brand and goodwill'' of sugaronline.com. The proposed acquisition would have enhanced sugartrade.com's venture into the Indian sugar futures market. Sources said the deal could not materialise despite the Indian outfit's willingness to pay around a million US dollars for its proposed acquisition.

The net has more than 100 portals on the sugar trade, but only sugaronline.com is considered to be the reference point for information and online activity.

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