DSM Informs Market on the Announced Sale of DSM Sinochem Pharmaceuticals to Bain Capital
DSM Informs Market on the Announced Sale of DSM Sinochem Pharmaceuticals to Bain Capital |
| [29-June-2018] |
HEERLEN, Netherlands, June 29, 2018 /PRNewswire/ -- Royal DSM, a global science-based company in Nutrition, Health and Sustainable Living, informs its stakeholders that Bain Capital today announced the proposed acquisition of DSM Sinochem Pharmaceuticals (DSP). DSM and Sinochem Group each own 50% of the shares of DSP. The transaction is expected to be completed in the fourth quarter of 2018, subject to customary regulatory approvals and consultations. (Logo: https://mma.prnewswire.com/media/657851/DSM_Logo.jpg ) DSM will receive about €250 million for its equity stake, excluding an earn-out (estimated at around €50m) and transaction costs. DSM anticipates a book profit on the transaction to be recognized upon closing. DSM expects to receive approximately €275 million in cash following closing, including repayment of debt and after transaction costs. More information regarding the acquisition of DSP by Bain Capital can be found in the press release issued by Bain Capital and DSP on 29 June 2018. DSM - Bright Science. Brighter Living.™ Royal DSM is a purpose-led global science-based company in Nutrition, Health and Sustainable Living. DSM is driving economic prosperity, environmental progress and social advances to create sustainable value for all stakeholders. DSM delivers innovative business solutions for human nutrition, animal nutrition, personal care and aroma, medical devices, green products and applications, and new mobility and connectivity. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 23,000 employees. The company is listed on Euronext Amsterdam. More information can be found at http://www.dsm.com. Or find us on: Forward-looking statements This press release may contain forward-looking statements with respect to DSM's future (financial) performance and position. Such statements are based on current expectations, estimates and projections of DSM and information currently available to the company. DSM cautions readers that such statements involve certain risks and uncertainties that are difficult to predict and therefore it should be understood that many factors can cause actual performance and position to differ materially from these statements. DSM has no obligation to update the statements contained in this press release, unless required by law. The English language version of the press release is leading. For more information: DSM Investor Relations PRN NLD | ||
Company Codes: EuronextAmsterdam:DSM, OTC-PINK:RDSMY, Bloomberg:DSM@NA, ISIN:NL0000009827 |
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