Chemical
IFF receives EU clearances for DuPont’s N&B business
With receipt of European Commission clearances, the intended combination has received all required antitrust clearances and approvals that are a condition to the closing of the transaction
- By ICN Bureau
| December 09, 2020
IFF and DuPont have announced that the intended combination of DuPont’s Nutrition & Biosciences (N&B) business with IFF has received unconditional clearance from the European Commission and the transaction is expected to be closed in Q1 of 2021.
With receipt of European Commission clearances, the intended combination has received all required antitrust clearances and approvals that are a condition to the closing of the transaction.
“We are pleased to have received our final antitrust clearance from the European Union (EU), allowing us to proceed with our combination with DuPont N&B,” said IFF Chairman and CEO, Andreas Fibig.
“Having already secured the strong support of IFF’s shareholders and having made tremendous progress in our integration planning efforts, today marks another great milestone that brings us one step closer to bringing this industry-leading combination to life,” commented Fibig.
“Both of our teams can be proud of the progress we have made during this challenging year,” said Ed Breen, DuPont Executive Chairman and Chief Executive Officer.
“I am confident that, together, the combined company will be well-positioned for long-term sustainable growth,” added Breen.
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