Adisseo Nutrition Corporation, the subsidiary of China BlueStar Corporation, issued a news report on September 26 to declare that it has completed the merger of 90 percent of France Innov'ia Company's equities.
Adisseo also declared that its subsidiary Adisseo Holdings will buy the rest of the equities through a buyback offer. The buyback will last from September 27 to October 31, 2011 at the purchasing price of 6.67 euros per share. If Adisseo holds more than 95 percent of the equities and voting rights of Innov'ia Company when the offer expires, it will require withdrawing the shares exchange registered by Innov'ia in the free market.
The purchasing objective of Adisseo is to promote the future development of Innov'ia in different markets. After the equities merger, Innov'ia will maintain an autonomous management.
Innov'ia mainly engages in designing and processing powder and granular preparations, which are used as ingredients in agricultural products, cosmetics, and in pharmaceutical and chemistry industries. It is a leading enterprise in the European market, with business revenue of 16 million euros in 2010. The company has 110 employees.
Adisseo is one of the three largest methionine manufacturers in the world; it has 13 hundred employees, three research centers and five production bases (three in France, and one in Spain and USA). Its distributing network covers more than 100 countries and regions. The business revenue in 2010 was worth over one billion euros. From January 2006, Adisseo became a subsidiary of BlueStar Corporation under ChemChina.