Brief: Novozymes: Remedy Proposal Related To Merger With Chr Hansen

Novozymes A/S

20/11/2023 07:09

Nov 20 (Reuters) - Novozymes A/S  NZYMb.CO :
    * UPDATE ON MERGER EC OFFERED REMEDY PROPOSAL
    * PROPOSAL: DIVESTMENT OF PART OF GLOBAL LACTASE ENZYME BIZ IN ORDER TO OBTAIN PHASE 1
APPROVAL
FROM EUROPEAN  COMMISSION
    * DIVESTMENT IS DEEMED IMMATERIAL FOR COMBINATION FROM REVENUE, FINANCIAL  IMPACT POINT OF
VIEW
    * SCOPE OF DIVESTMENT IS ASSESSED TO REPRESENT AROUND 1% OF COMBINED  COMPANY’S TOTAL
REVENUES
    * BUYER HAS BEEN IDENTIFIED
    * DIVESTMENT CAN BE FINALIZED  WITHIN  SHORT PERIOD OF TIME FOLLOWING COMPLETION OF
COMBINATION,
TO OBTAIN CLEARANCE  FROM EC
    * PROCESS CONTINUES TO PROGRESS VERY WELL ALLOWING FOR EXPECTED CLOSING OF COMBINATION IN Q4
2023
OR Q1 2024

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Further company coverage:  NZYMb.CO 

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