Conditional approval of sale of Danisco Sugar
The German competition authorities, the Bundeskartellamt, have today conditionally approved Nordzucker’s acquisition of Danisco Sugar.
Notice no. 1/2009
The approval is conditional on the sale of Danisco’s German sugar and bioethanol plant in Anklam to a “suitable purchaser”. According to the German competition authorities, Dutch-based Cosun may be a potential buyer of the plant in Anklam. For more information about the decision, please visit www.bundeskartellamt.de.
According to the contract concluded by Nordzucker and Danisco on 14 July 2008, the transaction is to be completed by the end of February 2009, subject to the condition being met. - We expect the condition to be met in the coming days.
Meanwhile, Nordzucker has announced that it wishes to renegotiate the acquisition price as a consequence of the divestment of the Anklam site. We do not find this supported by the contract.
We will issue a stock exchange notice as soon as the situation has been further clarified.
Yours faithfully Tom Knutzen CEO
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