Gist-brocade buy funded by DSM shares

05 October 1998 00:00  [Source: ICB]

DSM has explained how the Gist-brocades purchase will affect its business, and is to issue cumulative preference shares to fund the deal and a share-buyback programme.

It expects to double sales from its life-sciences business by 2001, with an operating result of Dfl650m ($345m) the target.

The cluster of companies in the life-sciences division will comprise five business groups made up of DSM's fine chemicals activities and the Gist-brocades business. These are: DSM Anti-infectives, DSM Fine Chemicals, DSM Specialty Intermediates, DSM Food Specialties and DSM Bakery Ingredients.

It is planned that the new structure will come into effect by the end of the month.

DSM expects that the company's sales profile will become life-science products (30%), performance materials (30%) and polymers and industrial chemicals (40%) (ECN 15 June 1998).

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