VION has reached agreement on the sale of its Ingredients division to Darling International. Darling will pay approximately EUR 1.6 billion in cash for the entire takeover. De Brauw acted as counsel to VION.
The successful sale of Ingredients will help to ensure the financing of an independent VION Food. Ingredients and Darling also complement each other well, both geographically and operationally. Darling International has a strong presence in North America, while Ingredients takes a leading position mainly in Europe and globally.
VION has taken all necessary steps this year to achieve a full operational, organisational and legal separation of VION Food and Ingredients.
Arne Grimme, lead partner: “This was a very challenging transaction, not in the least because of the major significance of the sale to VION and all stakeholders involved. We have advised VION in several areas for years. The sale of Ingredients will enable VION Food to proceed to the next stage in its existence. We are happy, as lead counsel, that we could assist VION in realising its strategic objectives, using the various legal disciplines in our firm”.
VION Ingredients, a division of VION N.V., has 58 businesses and approximately 5700 employees worldwide.
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