Symrise AG’s €800 Million Financing for the acquisition of Dehydrated Foods LLC, International Dehydrated Foods LLC and IsoNova Technologies LLC

White & Case advised BNP Paribas and UniCredit Bank AG on the financing of the acquisition of American Dehydrated Foods LLC, International Dehydrated Foods LLC and IsoNova Technologies LLC (ADF/IDF) by Symrise AG (Symrise).

The banks provided a total financing volume of €800 million to Symrise through a combination of bridge facility and term loan facilities, as well as a capital increase in the amount of approximately €400 million. The new shares were issued under exclusion of shareholders’ subscription rights and exclusively placed to institutional investors in a private placement by way of an accelerated bookbuilding process. The net proceeds from the capital increase will be used to partially refinance the bridge facility. On February 11, 2019, the new shares were admitted to trading on the regulated market segment of the Frankfurt Stock Exchange (Prime Standard).

Symrise is a global MDax-listed supplier of fragrances, flavors, food and cosmetic ingredients. ADF/IDF is a leading supplier of clean label natural ingredients for pet food based on meat and egg products.

The White & Case team that advised on the transaction was co-led by local partners Matthias Bochum (Picture) and Thilo Diehl (Frankfurt) and included partners Florian Degenhardt (Hamburg), Rebecca Emory, Alexander Kiefner and Karsten Wöckener (all Frankfurt), local partner Cristina Freudenberger (Frankfurt) and associates Robert Nachama (Frankfurt) and Max Sergelius (Hamburg).

Involved fees earner: Matthias Bochum – White & Case; Florian Degenhardt – White & Case; Thilo Diehl – White & Case; Rebecca Emory – White & Case; Cristina Freudenberger – White & Case; Alexander Kiefner – White & Case; Robert Nachama – White & Case; Max Sergelius – White & Case; Karsten Wöckener – White & Case;

Law Firms: White & Case;

Clients: BNP Paribas; UniCredit Bank AG;