Novozymes acquires GroPep Ltd.

29-Nov-2006

Novozymes A/S announced the successful conclusion of the proposal to acquire 100% of the issued shares of GroPep Limited ("GroPep") at AUD 2.05 per share. The acquisition, which will be effected by way of a Scheme of Arrangement, was subject to certain limited conditions which have now all been fulfilled satisfactorily.

The total aggregate consideration to holders of GroPep shares and options is approximately AUD 100 million (DKK 446 million). The transaction value corresponds to approximately DKK 394 million on a cash and interest-bearing debt-free basis. Payment is expected to be made on December 12, 2006, which will be the official implementation date.

Novozymes expects GroPep to be de-listed from the Australian Stock Exchange (ASX) November 28, 2006. The new name of the company will be Novozymes GroPep Ltd. The company will become a wholly owned indirect subsidiary of Novozymes and will be included in Novozymes' consolidated accounts as of the closing date.

Other news from the department business & finance

Most read news

More news from our other portals

All autoclave manufacturers at a glance