Brief: Skotan to sell its Yarrowia Lipolytica and ethyl esters project to Synthos
21/04/2016 09:47
April 21 (Reuters) - Skotan SA SKTP.WA :
* Said on Wednesday that it completed negotiations
concerning sale of part of its projects
* Signed a conditional agreement concerning a transfer of an
organized part of its business to a wholly-owned special purpose
vehicle (SPV) and subsequent sale of the shares in SPV to
Synthos SA SNS.WA
* Under the agreement, Synthos SA will acquire 76 pct stake
in SPV for 12.5 million zlotys ($3.30 million) and will have
call option to buy remaining 24 pct stake
* The organized part of business consists of assets and
benefits related to Yarrowia Lipolytica and ethyl esters of
fatty acids projects developed by Skotan
* Says Synthos is developing Synthos Care business unit and
products of Skotan fit in unit's development plans
* Says the transaction significantly reduces the liquidity
risk of the company, that management pointed out in Skotan's
financial statement for 2015
Source text for Eikon: urn:newsml:reuters.com:*:nEM2032734
Further company coverage: SKTP.WA SNS.WA
($1 = 3.7900 zlotys)
(Gdynia Newsroom)
((Gdynia.newsroom@thomsonreuters.com; +48 58 698 3920;))