07 May 2013 09:39 [Source: ICIS news]
SINGAPORE (ICIS)--DSM will acquire a 19% stake in Yantai Andre Pectin, a China-based maker of texturing ingredients, for an undisclosed amount, the Dutch chemicals firm said on Tuesday.
The deal, which is still subject to regulatory approvals, is expected to close in the third quarter of this year, DSM said in a statement.
The Dutch firm is also given an option to increase its stake to become a majority shareholder of the Shandong-based firm at a later stage, it said.
Andre Pectin generates annual net sales of around €30m ($39m), DSM said.
($1 = €0.76)
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