Brief: Synthos withdraws from deal to buy Skotan's Yarrowia Lipolytica and ethyl esters project
26/09/2016 08:58
Sept 26 (Reuters) - Skotan SA SKTP.WA :
* Said on Friday that Synthos withdrew from the conditional
agreement to buy shares in special purpose vehicle from Skotan
SA urn:newsml:reuters.com:*:nL5N17O1ZG
* Said the withdrawal is due to the fact that not all
conditions of the agreement were fulfilled in time as the
process of obtaining approvals for the completion of transaction
from the financing institutions was prolonged
* Said so far received consent for transfer of two research
projects of all to be transferred
* Said Skotan requested return of the advance payment in the
amount of 3 million zlotys ($783,106) within seven days
* Said due to this information plans to revise its
short-term strategy
Source text for Eikon: urn:newsml:reuters.com:*:nEM2361409
Further company coverage: SKTP.WA , SNS.WA
($1 = 3.8309 zlotys)
(Gdynia Newsroom)
((Gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))