BRADENTON, Fla. - Florida Gov. Charlie Crist yesterday announced that a deal has been reached to scale back the purchase of U.S. Sugar Corp. to $1.34 billion from the previous purchase price of $1.75 billion in order to buy only the land and not the assets of the company.

The land purchase, now proposed at 180,000 acres compared to 187,000 originally, will be financed with certificates of participation to conduct major restoration projects in the nationally acclaimed south Florida Everglades.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.