Givaudan to acquire Quest International


Givaudan has signed an agreement with UK-based Imperial Chemical Industries PLC, to acquire its fragrance and flavour business, Quest International for £ 1,200 million or around CHF 2.8 billion. Quest shall extend Givaudan's leadership position in all strategic segments of the fragrance and flavour industry. Givaudan expects to achieve annual synergies of CHF 150 million with full benefits to be realized after year three. The acquisition will be financed by debt and the issuance of up to CHF 1 billion in equity.

The transaction is subject to regulatory approval. It is hoped that completion will take place during the 1st Quarter 2007.

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