PAI offloads 25.66% of Chr. Hansen for €560m

The sale through the wholly owned PAI vehicle Financiere Star 1 S.A. reduces PAI's stake in the food ingredients company to 0.4%. Novo A/S stated it did not intend to take a majority stake in Chr. Hansen, but will remain a long-term minority shareholder.

The purchasing agreement prices Chr. Hansen shares at DKK117 (€15.73) per share. Today's opening price was DKK138 (€18.56).

Morgan Stanley and SEB Enskilda Corporate Finance acted as financial advisers to PAI/Financiere Star 1 S.A. and Novo A/S respectively. 

PAI had floated the company on Copenhagen's NASADQ OMX in 2010, in an IPO worth DKK12.95 (€1.74bn), which raised net proceeds of DKK3.15bn (€423.6m). Its initial stake had been 55.6%, but was reduced to 26% in November 2011. 

PAI Partners bought Chr. Hansen for DKK8.2bn (€1.1bn) in July 2005.

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Nordics
• Consumer
• Exits
• Denmark
• PAI Partners
• Morgan Stanley