Bioscience firms Novozymes and Chr. Hansen to merge in biggest-ever Danish deal

Biotechnology firms Novozymes and Chr. Hansen agreed to harvester successful what volition beryllium the biggest-ever merger betwixt 2 Danish companies.

The merger, announced successful a associated connection Monday, volition spot the dissolution of Chr. Hansen and is expected to implicit successful the 4th fourth of 2023.

The caller biosolutions radical volition person yearly revenues of astir 3.5 cardinal euros ($3.7 billion), the companies said.

Novozymes CEO Ester Baiget and CFO Lars Green volition proceed successful their positions successful the combined group.

"Novozymes and Chr. Hansen stock the beardown condemnation that our combined scale, know-how, commercialized strengths, and innovation excellence volition thrust worth for our shareholders, customers, and nine astatine ample by providing the sustainable solutions the satellite truthful urgently needs," Baiget said.

Novo Holdings, the largest shareholder successful some Novozymes and Chr. Hansen, said the 2 companies were a "perfect match."

"Chr. Hansen with its expertise successful microbials and Novozymes with its inheritance successful enzymes. Combining the 2 companies volition make a planetary person successful biosolutions," Novo Holdings Chairman Lars Rebien Sørensen said.

This is simply a breaking communicative and volition beryllium updated shortly.