10 January 2011 05:04 [Source: ICIS news]
SINGAPORE (ICIS)--US chemical major DuPont has entered into an agreement to acquire Danish food ingredients and enzymes firm Danisco for $6.3bn (€4.91bn), the company said in a statement late on Sunday.
The purchase would involve $5.8 billion paid in cash and assumption of $500 million of Danisco's net debt, the statement said.
The acquisition was expected to be financed with about $3bn in existing cash and the remainder in debt, it said.
“The transaction is expected to close early in the second quarter and be cash and earnings accretive in 2012, the first full year of the combined entity,” the statement added.
($1 = €0.78)
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