Evolva is sold to Canada
Published: Tuesday, Nov 21st 2023, 10:50
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Basel-based Evolva is at an end. The biotech company is selling its activities to the Canadian Lallemand Group and will later be delisted from the Swiss stock exchange. The move was preceded by lengthy financing problems.
Evolva specializes in natural ingredients that are used in the areas of flavours and fragrances, health ingredients and health protection. Evolva ventured onto the stock market at the end of 2009 with the purchase of the insolvent Arpida, which was already listed.
However, the company recently had its back to the wall, as it was only financed until the first quarter of 2024. It is difficult to negotiate in such a situation.
Now Lallemand is taking over the company from Reinach BL - for just CHF 20 million. 10 million more if certain sales targets are achieved.
This means that Evolva shareholders will receive a liquidation dividend of between 70 centimes and 2.40 francs in a few years' time - the liquidation is not expected to be completed until 2026. As a result, the shares plummeted by around three quarters to 1.01 francs on the stock exchange.
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