09 October 2013 09:31 [Source: ICIS news]
SINGAPORE (ICIS)--DSM has completed the acquisition of a 19% equity interest in China-based texturing ingredients producer Yantai Andre Pectin Co for an undisclosed fee, the Netherlands-based life sciences and material sciences firm said on Wednesday.
The deal will bring DSM’s total interest in Yantai Andre Pectin Co to 29%, including the 10% stake previously bought from Hony Capital, the company said in a statement.
“The parties have agreed that DSM has option rights to increase its stake in Andre Pectin to a majority stake at a later stage,” it added.
Yantai Andre Pectin Co is active in the production and sale of apple and citrus pectin, a key food hydrocolloid providing texture, as well as pectin-related food products, according to DSM.
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