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DSM and Sinochem Establish Antibiotics JV

5:31 AM MDT | August 31, 2011 | Alex Scott

DSM and Sinochem have completed a deal to create a 50-50 joint venture in antibiotic pharmaceuticals. All applicable regulatory approvals and customary clearances from competition authorities have been received, DSM says. Discussions between the two parties had been ongoing since a prospective deal was announced by DSM in December 2010. Under the terms of the agreement, Sinochem has taken a 50% equity stake in DSM’s Anti-Infectives antibiotics business for €210 million ($303 million) in cash on a debt-free basis. The agreement is back-dated...

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