On 11 February 2025, dsm-firmenich announced the sale of its Feed Enzymes business to Novonesis, a global leader in biosolutions, for €1.5 billion. At dsm-firmenich, the feed enzymes business is currently part of the Animal Nutrition & Health Business Unit, which itself will be separated from the Group to operate under new ownership, as announced in February 2024, and represented approximately €300 million in total annual net sales in 2024. dsm-firmenich expects to receive approximately €1.4 billion net in cash, after transaction costs and capital gains tax, and anticipates a book profit on the transaction to be recognized upon closing. This transaction is expected to be completed in the course of 2025, subject to customary conditions and regulatory approvals. The announced sale of the feed enzymes business is subject to held-for-sale conditions only met after the reporting date and therefore do not impact the dsm-firmenich’s Consolidated Financial Statements at year-end 2024.
On 25 February 2025, dsm-firmenich successfully launched a €750 million bond with an 11-year maturity due in 2036, at a coupon of 3.375%. The bond is issued by DSM B.V. and is guaranteed by DSM-Firmenich AG pursuant to the previously established cross-guarantee structure (see also Note 14 Guarantee obligations to the Parent Company Financial Statements). The proceeds of the new bond will be used for general corporate purposes, including the refinancing of existing indebtedness.
The re-offer price for the 11-year bond tranche was 98.875%. Based on this price, the yield is 3.500%. The bonds are listed on the Luxembourg Stock Exchange. As a consequence of the bond issuance the undrawn amount of €1.0 billion bridge facility will be reduced to €250 million (see also Note 23 Financial instruments and risks).