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DSM to Sell DSM Energy and Urea-Licensing Business

11:50 PM MDT | July 29, 2009 | Deepti Ramesh

DSM says it has reached an agreement with Abu Dhabi National Energy Company (TAQA; Abu Dhabi) for the sale of DSM Energie Holding (DSM Energy) for an enterprise value of €285 million ($399 million). The deal is expected to close in the third quarter of 2009. DSM says it has also reached an agreement with Italian engineering and construction group Maire Tecnimont to sell Stamicarbon, DSM’s urea-licensing subsidiary to Maire Tecnimont for a total of €38 million. The sale is expected to close by the fourth quarter of 2009.  The move is part of...

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