Strategic rationale and synergies: A successful acquisition of Philom Bios will enhance Novozymes' future activities within the growing bio-agricultural market and will also be a good strategic match seeing that both companies have competencies within microbial fermentation.
Conditions to and further terms to the offer: This transaction is subject to the fact that at least 67% of Philom Bios' outstanding shares are tendered to the bid. Novozymes has already secured more than 70% of the shares. The transaction is expected to be closed in December 2007.
Financial impact on Novozymes' result: A successful acquisition of Philom Bios is expected to have an insignificant impact on Novozymes' sales and EBIT in 2007. Consequently, the financial guidance for 2007 remains unchanged following the transaction.
The acquisition will support the long-term sales growth projection of 10% per annum for Novozymes' microorganisms business.
The EBIT margin is expected to be at level with the long-term financial expectations within a couple of years. However, initially financials will be impacted by the transaction costs.
Novozymes will finance the transaction from existing financial resources available to the company.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
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