DuPont backs biofuels with $5.8bn Danisco deal

2011-01-11 businessGreen
US conglomerate agrees multibillion dollar take over of Danish biofuels partner

Chemicals giant DuPont has moved to beef up its presence in the fast-expanding biofuels market with the announcement it is to acquire Danish food and biotechnology company Danisco in a $5.8bn deal.

Under the terms of the deal, which was announced yesterday, DuPont will also assume $500m of Danisco’s net debt. DuPont chair and chief executive Ellen Kullman said the acquisition would establish the company as a leader in industrial biotechnology.

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