Bredin Prat advises DSM-Firmenich as its subsidiary Firmenich International S.A. sells the majority of its stake in Robertet S.A.

Bredin Prat is advising DSM-Firmenich, a leading specialist in innovation in the field of nutrition, health and beauty, as its subsidiary Firmenich International S.A. sells the majority of its stake in Robertet S.A., a manufacturer of flavours, fragrances and natural extracts of aromatic plants and spices which has existed for more than 200 years.

The sale transaction was conducted in part via an accelerated book-build offering to qualified investors only, at a price of €850 per share, for a total amount of c. €115 million. In parallel, Firmenich International S.A. entered into an agreement with the Fonds Stratégique de Participations and Peugeot Invest, for block sales of Robertet S.A. shares representing (i) 227,324 Robertet S.A. shares in equal proportions to the Fonds Stratégique de Participations and Peugeot Invest, and (ii) 102,000 Robertet S.A. investment certificates in equal proportions also to Fonds Stratégique de Participations and Peugeot Invest. Delivery and settlement of the offering and the block sales will take place on 19 November 2024.

Lastly, Maubert S.A., the controlling shareholder of Robertet S.A., has undertaken to acquire 15,007 investment certificates directly or indirectly from Firmenich International S.A..

Upon completion of these transactions, Firmenich International S.A. will have a stake of c. 1% in Robertet S.A.’s share capital.

The Bredin Prat team advising DSM-Firmenich is as follows:

• Corporate / Capital Markets: Olivier Saba and Benjamin Kanovitch (partners), Karine Angel (counsel) and Thierry Nkiliyehe
• Tax law: Jean-Baptiste Frantz (partner), Kevin Guillou

DSM-Firmenich was also advised by Cravath, Swaine & Moore and by Bär & Karrer.