November 26, 2019 / 6:00 AM / 20 days ago

BRIEF-Givaudan SA To Acquire Cosmetics Business Of Indena

Nov 26 (Reuters) - Givaudan SA:

* GIVAUDAN TO ACQUIRE COSMETICS BUSINESS OF INDENA

* GIVAUDAN AND INDENA WILL ALSO SIGN A LONG TERM PARTNERSHIP AGREEMENT UNDER WHICH INDENA WILL CONTINUE TO MANUFACTURE INGREDIENTS FOR GIVAUDAN, AS WELL AS PROVIDING INNOVATION CAPABILITIES AND OTHER SUPPORTING SERVICES

* THE TERMS OF THE DEAL HAVE NOT BEEN DISCLOSED AND GIVAUDAN PLANS TO FUND THE TRANSACTION FROM EXISTING RESOURCES

* INDENA’S COSMETIC INGREDIENTS BUSINESS WOULD HAVE REPRESENTED APPROXIMATELY EUR 8 MILLION OF INCREMENTAL SALES TO GIVAUDAN’S RESULTS IN 2018 ON A PROFORMA BASIS

* THE TRANSACTION IS EXPECTED TO CLOSE IN Q1 2020 Source text for Eikon: Further company coverage: (Reporting by John Miller)

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