NOT FOR DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA,
CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE
WOULD BE UNLAWFUL.
Oslo/Lille, 20 April 2021: Compagnie des Levures Lesaffre ("Lesaffre or the
"Offeror") is today launching a mandatory offer (the "Offer") on NattoPharma ASA
("NattoPharma" or the "Company"). The terms of the Offer is set out in the offer
document dated 19 April 2021 which has been approved by Oslo Børs, in capacity
as take-over supervisory authority (the "Offer Document").
Key terms are as follows:
· Offer price: NOK 35.00 per share
· Offer period: From and including 20 April 2021 to 16:30 hours (CET) on 18
May 2020, subject to extension for a maximum period of 2 weeks.
· Receiving agent: Nordea Bank Abp, filial i Norge
As of the launch of the mandatory offer, Lesaffre owns shares in NattoPharma
representing approximately 77% of the share capital.
KWC AS has provided an independent statement in accordance with § 6-16 of the
Norwegian Securities Trading Act inter alia concluding that: "These analyses
provide substantial support that the Offer price provides NattoPharma
shareholders with some of the value of synergies that are expected to accrue to
the combined Lesaffre - NattoPharma business" and that "[t]he terms of the Offer
are fair from a financial point of view and the Offer Price of NOK 35 per share
represents a full and fair arm's length price for all the outstanding shares of
The Offer Document, containing the full terms and conditions of the Offer will,
subject to regulatory restrictions in certain jurisdictions, be sent today, 20
April 2021, to all shareholders in NattoPharma whose address appears in
NattoPharma's share register in the Norwegian Central Securities Depositary
(VPS) as of 19 April 2021.
The Offer Document is, subject to regulatory restrictions in certain
jurisdictions, available at www.nattopharma.com.
Background for the Offer
The Offer is made by Compagnie des Levures Lesaffre, a direct 98.57% owned
subsidiary of Lesaffre & Cie.
Lesaffre is a key global player in fermentation for more than a century, with a
revenue of more than 2 billion euro, and established on all continents, counts
10,700 employees and more than 70 nationalities. On the strength of this
experience and diversity, Lesaffre works with customers, partners and
researchers to find ever more relevant answers to the needs of food, health,
naturalness and respect for our environment. Thus, every day, Lesaffre explores
and reveals the infinite potential of microorganisms. To nourish 10 billion
people, in a healthy way, in 2050 by making the most of our planet's resources
is a major and unprecedented issue. Lesaffre believes that fermentation is one
of the most promising answers to this challenge.
Lesaffre believes that joining forces with NattoPharma would be beneficial for
both companies. Their geographic footprint are complementary and joining forces
would create a truly global company that would offer a documented and innovative
science-backed approach with the solid sourcing and applications. The combined
entity will be well equipped to make the best use of the opportunity in a market
that has seen rapid expansion in most parts of the world.
Reference is also made to the statement from NattoPharma's CEO Kjetil Ramsøy on
15 February 2021 where he stated the following:
"We are impressed with LesaffreŽs track record and global reach and we are
confident that partnering up with their team will enable us to reach the next
level. We are excited about the opportunities ahead and we will continue
developing and delivering world class products to our joint customer base."
The Offer Document contains further details regarding the Offer, and the
shareholders of NattoPharma are advised to review the Offer Document in detail.
The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions and
the Offer is not made in any jurisdiction where the making of the Offer would
not be in compliance with the laws of such jurisdiction. The Offeror assumes no
responsibility in the event there is a violation by any person of such
restrictions. Persons into whose possession this announcement or such other
information should come are required to inform themselves about and to observe
any such restrictions. This announcement does not in itself constitute an offer.
The Offer is made in the Offer Document and can only be accepted pursuant to the
terms of such document.
Rothschild is acting as financial adviser to Lesaffre and the Offeror and Nordea
Bank Abp, filial i Norge, is acting as receiving agent. Advokatfirmaet
Thommessen AS is acting as the Norwegian legal adviser, and Linklaters is acting
as the French legal adviser, to Lesaffre and the Offeror in connection with the
ABG Sundal Collier ASA is acting as financial adviser and Advokatfirmaet CLP DA
is acting as Norwegian legal adviser to NattoPharma.
For further information, please contact:
Att: Kjetil Ramsøy
Telephone: +47 906 12 943
Att: Valérie Lassale/Chloe Bencivengo
Telephone: +33(0)1 46 34 60 60
NattoPharma is a public limited liability company listed on Euronext Expand Oslo
and is headquartered in Oslo. NattoPharma is the world's leader in vitamin K2
research and development, and is the owner and exclusive distributer of MenaQ7®
Vitamin K2 as MK-7, the best documented, vitamin K2 as menaquinone-7 (MK-7) with
guaranteed actives and stability, clinical substantiation, and international
patents granted and pending, and now the new MenaQ7® Full Spectrum, which
delivers menaquinones 6, 7, 8, and 9. The company has a multi-year research and
development program to substantiate and discover the health benefits of vitamin
K2 for applications in the marketplace for functional food and dietary
A key global player in fermentation for more than a century, Lesaffre, with a
2.2 billion euro turnover, and established on all continents, counts 10,700
employees and more than 85 nationalities. On the strength of this experience and
diversity, we work with customers, partners and researchers to find ever more
relevant answers to the needs of food, health, naturalness and respect for our
environment. Thus, every day, we explore and reveal the infinite potential of
To nourish 10 billion people, in a healthy way, in 2050 by making the most of
our planet's resources is a major and unprecedented issue. We believe that
fermentation is one of the most promising answers to this challenge.
The Offer and the distribution of this announcement and other information in
connection with the Offer may be restricted by law in certain jurisdictions.
Lesaffre and the Offeror assume no responsibility in the event there is a
violation by any person of such restrictions. Persons into whose possession this
announcement or such other information should come are required to inform
themselves about and to observe any such restrictions.
THE OFFER WILL NOT BE MADE IN ANY JURISDICTION IN WHICH MAKING OF THE OFFER
WOULD NOT BE IN COMPLIANCE WITH THE LAWS OF SUCH JURISDICITON. THIS ANNOUNCEMENT
DOES NOT IN ITSELF CONSTITUTE AND OFFER. THE OFFER WILL ONLY BE MADE ON THE
BASIS OF THE OFFER DOCUMENT AND CAN ONLY BE ACCEPTED PURSUANT TO THE TERMS OF
The Offer is subject to disclosure and procedural requirements of the Kingdom of
Norway which are different from those in the United States. In addition, the
payment and settlement procedures with respect to the Offer will comply with the
relevant Norwegian rules, which differ from United States payment and settlement
This information is subject to the disclosure requirements of NattoPharma
pursuant to section 5 -12 of the Norwegian Securities Trading Act.