Givaudan
This article was originally published in The Rose Sheet
Executive Summary
Fragrances and flavors supplier stock closed at approximately $312.50 (510 CHF) on its first day of trading on the Swiss Market Index June 8. Givaudan Roure's former parent company, Roche, voted to spin off the company at its May 9 general assembly; each Roche stockholder will receive one share of GIVN. Roche announced the $3.41 bil. transaction in December (1"The Rose Sheet" Dec. 13, 1999, p. 6). The new company, which will be renamed Givaudan, will continue to be headed by CEO Jurg Witmer. Givaudan generated $1.37 bil. in sales in 1999 and estimates it holds 14% of the worldwide flavors and fragrances market