Novo Pays PE Firm $708M For Stake In Chr. Hansen

Law360, New York (January 11, 2012, 3:26 PM EST) -- Novo A/S, the parent of diabetes care company Novo Nordisk A/S, is buying 35.4 million shares of Chr. Hansen Holding A/S for $708 million from private equity firm PAI Partners SAS, which is divesting its position at a profit, the companies said Wednesday.

Novo will pay 117 Danish kroner ($19.97) per share, and the purchase will boost its position in the Horsholm, Denmark-based Chr. Hansen — which makes ingredients for foods, pharmaceuticals and agricultural products — to more than 25 percent of the company.

"Chr. Hansen...
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