FMC acquires Cheminova for $1.4 Billion

FMC acquires Cheminova for $1.4 Billion

FMC acquires Cheminova for $1.4 Billion

Diversified chemical maker FMC Corporation acquires insecticide maker, Cheminova, from Auriga Industries of Denmark for about 1.4 Billion, including debt.

Philadelphia’s company FMC would pay in cash about 8.5 billion Danish kroner (about $1.4 Billion) and assume about 2 billion kroner for Auriga’s sole operating subsidiary Cheminova, Auriga added.

“Cheminova is a company that we have long considered to be an attractive potential partner,” said Pierre Brondeau, president, CEO and chairman of FMC.

Board of directors of Auriga Industries has recommended to approve the transaction by shareholders.

“FMC brings the scale and financial strength necessary to develop a true world leader within crop protection,”said the chairman of Auriga Jens Due Olsen in a news release.

The company said it expected to sale of the alkali chemicals business by mid-2015 and will keep its lithium business.

Auriga advisors were JPMorgan Chase and the law firm Gorrissen Federspiel, while FMC was advised by Citigroup, Goldman Sachs and the law firm Wachtell, Lipton, Rosen & Katz

The deal is subject to regulatory and shareholder approval and is expected to close in start of 2015. Auriga’s shareholders meeting is expected in October.

Mr. Stakebay says:

This deal helps FMC to expande position in existing crop segments and accelerates access to additional crops or to provides new technology applications, including research and formulation expertise and enchances portfolio with complementary products and technologies and many others.

 

President and CEO of FMC corp……Pierre R. Brondeau……..(2010-present)…..$7 937 535 (2013)

CEO and Member of Exectuive Board of Cheminova ….Jaime Gomez-Arnau…..(2013-present)

 

FMC Co.

CHEMINOVA

Revenue

$ 3.874 billion (2013)

EUR 885 million (2013)

Operating income

$ 659 million (2013)

EUR 821 million (2013)

Profit

$ 293.9 million (2013)

EUR 39 million (2013)

Total assets

$ 5.235 billion (2013)

EUR 6.38 billion (2013)

Total Equity

$ 1.572 billion (2013)

EUR 2.255 billion (2013)

Employees

5600 (2013)

2200 (2013)

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