Nutreco set to delist from stock exchange following SHV acquisition, offer now unconditional

By Jane Byrne contact

- Last updated on GMT

Nutreco set to delist from stock exchange following SHV acquisition, offer now unconditional

Related tags: Netherlands

Nutreco says the takeover by private investment firm, SHV, is now ‘unconditional’ with over 96% of all shares pledged.

And the Dutch animal nutrition and fish feed group said all offer conditions have been satisfied or waived.

The 19,470,145 shares held indirectly by SHV on 10 March 2015 together with the shares tendered under the offer amount to an aggregate value of about €2.9bn.

The Dutch investment company said it will announce the total amount and total percentage of Nutreco shares held by it on the third business day following the end of the post-closing acceptance period.

As SHV will hold at least 95% of shares in Nutreco following the deal, both parties say they will request Euronext Amsterdam to delist the feed giant from the stock exchange as soon as is possible.

Competition authority approval 

In February, Nutreco reported that SHV has received regulatory clearance from the competition authorities of China in connection with its offer for the Dutch feed group. That move followed similar approval from the EU and the competition bodies of Brazil, Canada, Russia, Turkey and the US. 

SHV was also reported to be making good progress in obtaining regulatory clearance for the deal from authorities in Bosnia and Herzegovina and Ukraine.

SHV, also based in the Netherlands, is present in 62 countries on all continents and employs approximately 60,000 people.

In December, the only other contender in the race to acquire Nutreco, US agribusiness giant, Cargill, decided to no longer pursue such action.

“In reaching this decision, Cargill considered all relevant facts, including the attractiveness of acquiring Nutreco relative to alternative potential investments,”​ said the agribusiness giant, adding that it remains committed to building further its global animal nutrition platform through both organic investment and acquisitions. 

Related topics: Cargill, Nutreco, Europe, Manufacturers

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