Israeli flavour firm Frutarom to buy remaining 81 pct of Enzymotec [Reuters]
ENZYMOTEC LTD ORDINARY SHARES (ENZY)
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Source: Reuters
Israeli flavour firm Frutarom to buy remaining 81 pct of Enzymotec | Reuters Reuters Staff 2 Min Read TEL AVIV, Oct 29 (Reuters) - Israeli flavour and fine ingredients company Frutarom Industries said on Sunday it agreed to acquire the 81 percent of special nutrition firm Enzymotec it doesn’t already own for $11.9 a share, or about $168 million. Frutarom had acquired in prior transactions 19 percent of Enzymotec for $42 million, reflecting an average share price of $9.6 and announced its intention to make a tender offer for Enzymotec shares. Following negotiations with Enzymotec’s board of directors the sides agreed upon a full merger. Enzymotec will become a wholly owned subsidiary of Frutarom and be delisted from trading. Frutarom expects the deal, be financed through bank debt and/or debt from a financial institution, to close by early in the first quarter of 2018. Enzymotec develops nutritional ingredients and medical foods and its technologies enable extraction of lipids from nat
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