2 February 2017
ABOUT PROTEIN TECHNOLOGIES INGREDIENTS
DETAILS
continues implementing its rapid growth strategy
and announces today that the option provided it
for the purchase of the remaining 25% balance
of share capital of Vantodio Holdings Limited ,
owner of the Russian group
Protein Technologies Ingredients
has been exercised for the overall sum
of approximately US$ 40 million.
The purchase of the remaining 25% balance
of share capital of Vantodio
was financed through bank credit.
In November 2013 Frutarom purchased
75% of PTI’s share capital
for a cash payment of US$ 50.3 million
(reflecting a company value of US$ 67 million).
The purchase agreement included
* an option for the purchase of the 25% balance
of shares starting from three years,
hence at a multiple of between 6 and 7
of the average annual EBITDA achieved
in the three years prior to the exercise of the option.
Today Frutarom announces that the option
has been exercised for approximately US$ 40 million.
Following the acquisition Frutarom became
the leading manufacturer of specialty savory solutions
in Russia and the countries of the region
and with one of the most leading
and largest R&D and sales, marketing
and distribution platforms in its field
Contact Details:
ir@frutarom.com
+972-9-9603800
WWW.CHEMWINFO.COM BY KHUN PHICHAI
