Global law firm White & Case LLP has advised BNP Paribas and UniCredit Bank AG on the financing of the acquisition of American Dehydrated Foods LLC, International Dehydrated Foods LLC and IsoNova Technologies LLC (ADF/IDF) by Symrise AG (Symrise).
The banks provided a total financing volume of €800 million to Symrise through a combination of bridge facility and term loan facilities, as well as a capital increase in the amount of approximately €400 million. The new shares were issued under exclusion of shareholders' subscription rights and exclusively placed to institutional investors in a private placement by way of an accelerated bookbuilding process. The net proceeds from the capital increase will be used to partially refinance the bridge facility. On February 11, 2019, the new shares were admitted to trading on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard).
Symrise is a global MDax-listed supplier of fragrances, flavors, food and cosmetic ingredients. ADF/IDF is a leading supplier of clean label natural ingredients for pet food based on meat and egg products.
The White & Case team that advised on the transaction was co-led by local partners Matthias Bochum (Hamburg) and Thilo Diehl (Frankfurt) and included partners Florian Degenhardt (Hamburg), Rebecca Emory, Alexander Kiefner and Karsten Wöckener (all Frankfurt), local partner Cristina Freudenberger (Frankfurt) and associates Robert Nachama (Frankfurt) and Max Sergelius (Hamburg).
Press contact
For more information, please speak to your local media contact.
