Dutch DSM to acquire 19% of China’s Yantai Andre Pectin

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)

By: Pearl Bantillo
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly