Roche vitamins deal
This article was originally published in The Rose Sheet
Executive Summary
DSM signs contract to acquire Roche's vitamins, carotenoids and fine chemicals business for €300 mil. less than originally announced, firms say Feb. 10. The roughly $2.24 bil. price tag agreed upon in September has been lowered due to "the continued slow-down of the world's economies and the weakening" of the U.S. dollar versus the Swiss Franc, "which both had a negative impact on the vitamin business performance compared to earlier forecasts," firms say (1"The Rose Sheet" Sept. 9, 2002, p. 3). As a result, DSM will pay about $2.09 bil. (€1=$1.07). Roche will take an impairment charge of $1.2 bil. in its 2002 results, and also will increase its provisions for liabilities relating to vitamin price-fixing charges. Still subject to approval by anti-trust authorities, the transaction is slated to close in spring...
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