logo
Plus   Neg
Share
Email

DSM Closes Acquisition Of Andre Pectin's Stake - Quick Facts

Royal DSM N.V. (RDSMY.PK), a life and material science company, reported the completion of the acquisition of a 19% interest in Yantai Andre Pectin Co. Ltd., a China-based producer of texturing ingredients.

Previously, DSM had purchased a 10% stake in Andre Pectin from Hony Capital. DSM's total shareholding in Andre Pectin is currently 29%. The parties agreed that DSM has option rights to increase its stake in Andre Pectin to a majority stake at a later stage.

DSM said its investment in Andre Pectin, synergistically combined with the prior acquired China-based gellan gum assets, creates a China-based hydrocolloids growth platform, in line with its strategy for the Nutrition cluster, continued value growth.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
MillerCoors LLC has filed a lawsuit against Anheuser-Busch Companies LLC, part of Anheuser-Busch InBev, alleging that Anheuser-Busch's ad campaigns associating MillerCoors' products, Miller Lite and Coor Light, with corn syrup is "false and misleading." During the Super Bowl, ABInBev ran an advertising campaign that mocked Miller Lite and Coors Light use corn syrup in brewing. Shares of Biogen Inc. are falling almost 28 percent in Thursday's trading after the company and Japanese drugmaker Eisai Co. said they will discontinue two late-stage trials for their experimental Alzheimer's drug, Aducanumab. The two Phase 3 trials, ENGAGE and EMERGE, are multi-center, randomized, double-blind, placebo-controlled, parallel-group studies designed to evaluate Aducanumab. The European Union on Wednesday ordered Alphabet Inc.'s Google to pay an antitrust fine of 1.49 billion euros for abusing its dominant position in the online search advertising intermediation market by preventing competition. This is the third antitrust fine by the EU against Google and it represents 1.29 percent of the tech giant's turnover in 2018.
Follow RTT