Royal DSM N.V., the global Life Sciences and Materials Sciences company headquartered in the Netherlands, and Maire Tecnimont S.p.A., a leading international engineering and construction group headquartered in Italy, announce that they have finalized today the sale of DSM's urea-licensing subsidiary Stamicarbon B.V. to Maire Tecnimont for a total consideration of EUR 38 million on a cash and debt-free basis.
An agreement for the sale was announced on 29 July 2009. DSM will report a book profit of about EUR 30 million after tax on the sale as an exceptional item in the income statement in Q4 2009.
With the closing of the acquisition, Maire Tecnimont will fully consolidate Stamicarbon B.V. from today (6 October) onwards. Intesa Sanpaolo provided the financing to Maire Tecnimont to undertake the operation.
Stamicarbon employs about 50 people in urea licensing, almost all of which are engineers and technical staff. Stamicarbon licenses patented technology and proprietary know-how to existing and prospective urea producers.