Dutch DSM and Swiss Firmenich join forces in all-share deal
31/05/2022 06:21
AMSTERDAM, May 31 (Reuters) - Dutch specialty chemicals
maker DSM DSMN.AS on Tuesday said it would merge with its
Swiss peer Firmenich in an all-share deal, to become a leading
supplier of food ingredients and beauty and well-being products.
The companies said the merger, expected to be finalised in
the first half of next year, could lead to an organic sales
growth of 5% to 7% per year and annual cost savings of 350
million euros ($376.15 million).
DSM shareholders would own 65.5% of the new Dutch-Swiss
group, with current owners of Firmenich owning the rest of the
shares.
($1 = 0.9305 euros)
(Reporting by Bart Meijer; Editing by Kim Coghill)
((Bart.Meijer@thomsonreuters.com; +31 20 504 5006; Reuters
Messaging: bart.meijer@thomsonreuters.com))