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10-08-2009: Royal DSM N.V., and Maire Tecnimont S.p.A., announce that they have finalized today the sale of DSM's urea-licensing subsidiary Stamicarbon B.V. to Maire Tecnimont for a total consideration of EUR 38 million on a cash and debt-free basis. An agreement for the sale was announced on 29 July 2009. DSM will report a book profit of about EUR 30 million after tax on the sale as an exceptional item in the income statement in Q4 2009.
With the closing of the acquisition, Maire Tecnimont will fully consolidate Stamicarbon B.V. from October 6 onwards. Intesa Sanpaolo provided the financing to Maire Tecnimont to undertake the operation.
Stamicarbon employs about 50 people in urea licensing, almost all of which are engineers and technical staff. Stamicarbon licenses patented technology and proprietary know-how to existing and prospective urea producers.
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DSM finalizes sale of urea-licensing business to Maire Tecnimont
Royal DSM N.V., and Maire Tecnimont S.p.A., announce that they have finalized today the sale of DSM's urea-licensing subsidiary Stamicarbon B.V. to Maire Tecnimont for a total consideration of EUR 38 million on a cash and debt-free basis. An agreement for the sale was announced on 29 July 2 ... more
DSM to sell urea-licensing business to Maire Tecnimont
Royal DSM N.V. and Maire Tecnimont S.p.A. announced that they have reached an agreement for the sale of DSM's urea-licensing subsidiary Stamicarbon B.V. to Maire Tecnimont for a total consideration of EUR 38 million on a cash and debt-free basis. The intended sale is expected to close by Q4 ... more
Maire Tecnimont S.p.A. is the parent company of an international industrial group which provides a comprehensive, integrated system of services and installations in four sectors: Chemicals and Petrochemicals, Oil & Gas, Power, Civil Engineering and Infrastructure. The Group has established ... more
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