Symrise to buy Diana, financing could go corporate

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By Olivier Holmey
16 Apr 2014

Trade buyer Symrise has overtaken private equity bidders in the takeover battle for French food firm Diana Ingredients, leading to speculation that the buyout debt could be done as a corporate rather than a leveraged financing.

Symrise, a maker of flavours and fragrances listed in Frankfurt, would invest €1.3bn in Diana if a buyout agreement were reached. The bidder announced on Saturday that it was in exclusive talks with Diana’s owner Ardian about the takeover.

A bridge financing would initially back the takeover. The ...

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