Symrise’s € 400 Million Shares Issuance

Symrise AG successfully placed 5,614,036 new shares from authorized capital with institutional investors as part of an accelerated bookbuilding process. The new shares were issued at an issue price of EUR 71.25 per share. There was high demand from the capital market.

With the gross proceeds of EUR 400 million, Symrise plans to partially finance the acquisition of American Dehydrated Foods LLC/International Dehydrated Foods LLC (ADF/IDF) announced on 31 January 2019. ADF/IDF is a leading supplier of natural ingredients for pet food and a pioneer in taste and nutritionally relevant clean label ingredients based on meat and egg products.

The capital increase has been registered at Hildesheim Local Court on 8 February 2019. With the capital increase, Symrise will complete the first financing component for the USD 900 million acquisition of ADF/IDF within a short period of time. The net proceeds from the capital increase will be used to partially refinance the bridge financing for the intended acquisition.

International law firm Clifford Chance advises Symrise AG on the capital increase as well as on the cross-border transaction and bridge financing.

Symrise is a global supplier of fragrances, flavors, food and cosmetic ingredients with clients that include manufacturers of perfumes, cosmetics, food, beverages and pharmaceuticals, and producers of nutritional supplements and pet food.

The Clifford Chance team advising Symrise on the capital increase is led by M&A partner Christof-Ulrich Goldschmidt (Picture), and comprises partner Christian Vogel, senior associate Maria Luisa Köhler (all Corporate/M&A) as well as partner George Hacket and associates David Santoro and Andrei Dan Manea (all Banking & Finance).

Involved fees earner: Andrei Dan Manea – Clifford Chance; Christof-Ulrich Goldschmidt – Clifford Chance; George Hacket – Clifford Chance; Maria Luisa Köhler – Clifford Chance; David Santoro – Clifford Chance; Christian Vogel – Clifford Chance;

Law Firms: Clifford Chance;

Clients: Symrise;