DowDuPont Inc.’s DWDPbusiness unit, DuPont Nutrition & Health (N&H) has secured the green signal from the European Commission (EC) to divest its heritage DuPont N&H Alginates business to JRS Group that makes functional additives from plant-based raw materials.
The transaction, which is expected to close in third-quarter 2018, includes the heritage DuPont N&H Alginates business, comprising pure and buffered alginates, a specific portfolio of pectin-alginate blends, the associated Landerneau production site and customer relationships.
The divestment was a requirement set out by the EC upon its conditional clearance of DuPont’s buyout of FMC Corp’s Health & Nutrition business last year.
DowDuPont has underperformed the industryit belongs to over a year. The company’s shares have gained around 3.2% over this period, compared with roughly 12% growth recorded by the industry.