SStibbe advises Firmenich on merger with DSM

Matter
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.