Danisco denies that it is negotiating to offload its stake in Genencor  

2003.09.12
A newspaper claim that Danisco is selling its Genencor shareholding is refuted in a press release to the Copenhagen bourse

According to an article yesterday morning in national daily newspaper Berlingske Tidende, food ingredients group Danisco is reportedly in the final stage of negotiations to sell its stake in Genencor International Inc. for approximately DKK 3.5 billion (USD 515 million). The buyer is rumoured to be the US company Eastman Chemicals. Genencor International Inc is a US biotechnology company with its headquarters in Palo Alto, California.

 

However yesterday afternoon in a press release to the Copenhagen Stock Exchange, Danisco refuted the claim that the company is in concrete negotiations to sell its stake in Genencor, and said it has not made any decision to put its stockholding up for sale. CEO of Danisco Group Alf Duch-Pedersen did however reiterate that Danisco finds it unsatisfactory to own 40% of the shares in Genencor in the long term, when another investor has a corresponding shareholding. Danisco should own either 0% or the majority, says Duch-Pedersen.

 

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