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Stibbe advises Firmenich on merger with DSM

Stibbe advises Firmenich on merger with DSM

Stibbe advises Firmenich on merger with DSM

02.06.2022 NL law

Stibbe advises Firmenich, the world’s largest privately-owned fragrance and taste company, on its merger with Royal DSM, to establish the leading creation and innovation partner in nutrition, beauty and well-being (DSM-Firmenich). DSM-Firmenich will be listed on Euronext Amsterdam. 

The merger will be effected through an exchange offer by DSM-Firmenich for DSM shares and the contribution by the shareholders of Firmenich of their Firmenich shares to DSM-Firmenich in exchange for DSM-Firmenich shares and €3.5 billion cash. At inception of the merger, DSM’s shareholders will own in the aggregate 65.5% of DSM-Firmenich and the various Firmenich shareholders will own in the aggregate 34.5% of DSM-Firmenich.

Firmenich is also advised by Swiss law firm Bär & Karrer and by Oberson Abels on Swiss tax aspects of the merger.

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