Danisco obtains EU approval to buy UK's Abitec

16 July 2008 10:16  [Source: ICIS news]

MUMBAI (ICIS news)--Danisco has obtained final approval from EU competition authorities to acquire shares in UK’s emulsifiers producer Abitec, the Danish plastic and paper manufacturer said on Wednesday.

The acquisition comes as part of the firm’s strategy to create value through organic and acquisitive growth and confirms its long-term commitment to the emulsifier market, Danisco said.

“By strengthening our position within emulsifiers we are well positioned to meet the increasing demands of customers,” Danisco's emulsifiers business head, Martin Klavs Nielsen.

An emulsifier stabilises emulsions, often a surfactant, and are used in cosmetics and nutrition.

The firm said that the agreement will be formalised on 29 August. Danisco initially signed the agreement in January, conditional on approval from the appropriate competition authorities.

The firm did not disclose details of the price of the acquisition.

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By: Aaron Rodrigues
+65 6780 4359

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