Novozymes and Chr. Hansen receive binding tax ruling that the proposed merger can be completed as a tax-exempt merger
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JANUARY 24, 2023
On December 12, 2022, Novozymes A/S ("Novozymes") and Chr. Hansen Holding A/S ("Chr. Hansen") announced that Novozymes and Chr. Hansen propose to combine and create a leading global biosolutions partner by way of a statutory merger of the two companies (the "Merger"). Reference is made to Chr Hansen's company announcement no. 13 of December 12, 2022.
As described in company announcement no. 13 of December 12, 2022, the Merger is intended to be completed as a tax-exempt merger according to the Danish Merger Tax Act (in Danish "Fusionsskatteloven"). In order to confirm that the relevant requirements are met for a tax-exempt merger, Novozymes and Chr. Hansen have requested a binding ruling from the Danish tax authorities.
Today, the Danish Tax Assessment Council (in Danish: "Skatterådet") has confirmed that the relevant requirements are met for a tax-exempt merger by rendering a binding ruling confirming the joint application from Novozymes and Chr. Hansen.
The exemption document that will be published before the respective extraordinary general meetings of Novozymes and Chr. Hansen resolving on the Merger will contain additional information on taxation in relation to the proposed Merger.
Completion of the Merger is subject to, among others, approval by the extraordinary general meetings in Novozymes and Chr. Hansen, respectively, and regulatory approvals.
For additional information, visit https://www.chr-hansen.com/en/investors/proposed-merger
About Chr. Hansen
Chr. Hansen is a global, differentiated bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical, and agricultural industries. At Chr. Hansen, we are well positioned to drive positive change through microbial solutions. We have worked for over 145 years to enable sustainable agriculture, better food and healthier living for more people around the world. Our microbial and fermentation technology platforms, including our broad and relevant collection of around 40,000 microbial strains, have game-changing potential. Matching customer needs and global trends, we continue to unlock the power of good bacteria to respond to global challenges such as food waste, global health and the overuse of antibiotics and pesticides. As the world’s most sustainable food ingredients company, we touch the lives of more than 1 billion people every day. Driven by our legacy of innovation and curiosity to pioneer science, our purpose – To grow a better world. Naturally. – is at the heart of everything we do.
Novozymes is the world leader in biological solutions. Together with customers, partners, and the global community, we improve industrial performance while preserving the planet's resources and helping build better lives. As the world's largest provider of enzyme and microbial technologies, our bioinnovation enables higher agricultural yields, low-temperature washing, energy-efficient production, renewable fuel, and many other benefits that we rely on today and in the future. We call it Rethink Tomorrow.
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