THE WHAT? Firmenich and DSM have jointly announced the launch of the Exchange offer as part of their merger to create DSM-Firmenich.
THE DETAILS The AFM has approved the Offering Circular, enabling the company to formally launch the Exchange Offer as part of the merger of equals between DSM and Firmenich to create DSM-Firmenich.
The managing board of DSM and the supervisory board of DSM unanimously support the transactions and recommended the exchange offer to the DSM shareholders for acceptance.
Completion of the transactions is currently expected in Q1 2023.
The combination will bring together Firmenich’s Perfumery and Taste businesses, its science platforms and associated co-creation capabilities with DSM’s Health and Nutrition portfolio and scientific expertise.
The new Swiss-Dutch global company will have four complementary businesses and will be domiciled in Switzerland and listed on Euronext Amsterdam.
THE WHY? The four businesses are said to better enable DSM-Firmenich to partner with customers to ‘fulfil their ambitions and address the needs of today’s conscious consumers who prioritize sustainability, health and well-being.’
Geraldine Matchett and Dimitri de Vreeze, Co-CEOs of DSM, commented: “We are entering the exciting next phase as we look to bring together DSM and Firmenich’s complementary capabilities, likeminded and passionate people, and unite the heritages of two great and historic companies.
“DSM-Firmenich is set to become the leading creation and innovation partner in nutrition, beauty and well-being, capable of delivering enhanced growth and shareholder value creation through strong growth synergies, as well as an enhanced customer offering and an even greater positive impact across the world.”