NATUREX : Naturex divests all its equity interests in the joint venture with Aker BioMarine
Actusnews•29/03/2016 à 18:00
Avignon, 29 March 2016 - Naturex, the global leader in speciality plant-based natural ingredients, informs its shareholders of the full divestiture of its interests in the joint-venture1 devoted to krill extract production created in February 2013 with the Norwegian group AKER BioMarine.
As part of the agreement, Aker BioMarine undertakes to pay Naturex, through a three-year interest-bearing vendor loan, an undisclosed amount corresponding to this disposal. The completion of the transaction is pending upon customary approval of the parties to the New Market Tax Credit program to which the joint-venture applied in 2013.
The impact of this operation in Naturex's Profit & Loss Account is relatively neutral.
Aker BioMarine will thus have full and entire ownership of the production site based in Houston (Texas, United States) devoted to krill extraction that has been fully operational since September 2015.
"As a long-standing partner, Naturex was able to assist Aker BioMarine, from the conception phase of this industrial project to its execution, by providing its technical expertise in extraction processes according to Current Good Manufacturing Practice (CGMPs)", commented Olivier Rigaud, Chief Executive Officer and Director of Naturex. "Our decision to withdraw from this joint venture, finalised in accordance with Naturex's best interests, is fully in line with the execution of our Bright2020 plan to allow us to concentrate on our core businesses and develop the Group's strategic assets."
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2015 annual results 30 March 2016
- Analysts meeting
(SFAF - French Society of Financial Analysts)
31 March 2016
Naturex has been listed since October 1996 on Euronext in Paris, Segment B
Total number of shares comprising the share capital: 9,241,682 (February 2016)
Naturex is a component of the CACT, Enternext CAC PEA-PME 150, CAC Small & Mid, CAC Small, Gaïa Index.
Naturex is eligible for the "long only" Deferred Settlement Service (SRD) and French equity plans (PEA and PEA-PME).
Naturex established a Sponsored Level 1 American Depositary Receipt (ADR) program in the United States. Under this facility, Naturex's ADRs are traded over-the-counter in the United States under the symbol NTUXY.
TICKER: NRX - Reuters: NATU.PA - Bloomberg: NRX:FP - DR SYMBOL: NTUXY
Naturex is the global leader in speciality plant-based natural ingredients. The Group is organised around three strategic markets (Food & Beverage, Nutrition & Health and Personal Care) and produces and markets speciality plant-based ingredients for the food, nutraceutical, pharmaceutical and cosmetic industries.
Naturex's head office is based in Avignon. The company employs 1,700 people with 8 sourcing offices located throughout the world and high-performance manufacturing operations across 15 sites in Europe, Morocco, the United States, Brazil, Australia and India. It also has a global commercial presence through a dedicated network of sales offices in more than 20 countries.
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Actus Finance Press Relations
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1 A 50% stake in the companies Aker BioMarine Manufacturing LLC and Aker BioMarine Financing LLC
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