EU extends decision date on Novoyzmes, Chr. Hansen deal to Dec. 12 -

EU extends decision date on Novoyzmes, Chr. Hansen deal to Dec. 12

Posted by Admin November 21, 2023 Bussiness

A view of a facility of biotechnology company Chr. Hansen, a global company that manufactures ingredients for the food industry, Avedoere, Denmark July 3, 2023. Ritzau Scanpix/Mads Claus Rasmusse via REUTERS/File Photo Acquire Licensing Rights

BRUSSELS, Nov 21 (Reuters) – EU antitrust regulators have extended their date for a decision on the tie-up of Danish food ingredients and enzymes makers Novozymes (NZYMb.CO) and Chr. Hansen (CHRH.CO) to Dec. 12 after the companies offered remedies to address competition concerns.

Novozyme, which makes enzymes for household products, food and beverages and biofuels, and Chr. Hansen, enzyme maker for the food sector, proposed on Monday to sell part of the combined company’s global lactase enzyme business. A buyer has already been found.

The EU competition watchdog will now seek feedback from customers and rivals of the companies before deciding whether to accept the offer, demand more or open a full-scale investigation.

The companies expect to close the deal in the last quarter of the year or the first quarter of 2024. Antitrust authorities in China, Brazil, Turkey and the United States have already given the green light to the merger.

Reporting by Foo Yun Chee, Editing by Louise Heavens

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