Corbion nv (Euronext Amsterdam: CRBN) ('Corbion') maakt bekend dat de onderneming de overname van het belang van Bunge Limited (NYSE: BG) ('Bunge') in de joint venture SB Renewable Oils heeft afgerond.

Corbion heeft Bunge's belang van 49,9% verworven in SB Renewable Oils verworven, een joint venture met een productiefaciliteit in Brazilië die gespecialiseerd is in de productie van uit algen gewonnen ingrediënten, zoals oliën rijk aan omega 3, voor aquacultuur en diervoeding. Corbion is nu voor 100% eigenaar van de fabriek in Orindiúva, die werk biedt aan circa 170 mensen.

"We heten het team in Orindiúva van harte welkom bij de wereldwijde familie van Corbion. Zij zijn van essentieel belang voor onze Algae Ingredients business, het innovatieve platform dat we afgelopen jaar hebben verworven. We committeren ons sterk aan de ontwikkeling van deze bedrijfsactiviteit", aldus Tjerk de Ruiter, CEO van Corbion.

Corbion heeft Bunge's aandeel in de externe schuld van de joint venture inclusief lopende rente (BRL 57 miljoen / USD 15 miljoen*) overgenomen en de werkkapitaallening van Bunge (BRL 29 miljoen / USD 8 miljoen*) afgelost. Bovendien is een earn out-voorziening met een looptijd van 5 jaar overeengekomen die in 2021 ingaat. Deze earn out is gebaseerd op de verkoop van AlgaPrime DHA, met een maximale contante waarde van USD 20 miljoen.** Aangezien de fabriek van SB Renewable Oils in de nabijheid van een van de suikerfabrieken van Bunge is gesitueerd, zijn langlopende leveringsovereenkomsten zeker gesteld voor suiker en voorzieningen. Goedkeuring van de relevante toezichthouder in Brazilië is verkregen.

Update financiële guidance
De bijgewerkte financiële guidance is gebaseerd op IFRS-cijfers
De guidance voor Ingredient Solutions is ongewijzigd
Corbion - autonome groei van de netto-omzet in de periode 2018-2021: 3-6% per jaar (was: netto-omzetgroei, inclusief de naar rato geconsolideerde joint ventures, van 3-6% per jaar)
Innovation Platforms - netto-omzetgroei van >20% per jaar (was: 10-30% per jaar, inclusief de naar rato geconsolideerde joint ventures)
Innovation Platforms - EBITDA nadert break-even in 2021 (was: EBITDA, inclusief de naar rato geconsolideerde joint ventures, nadert break-even in 2021)
Innovation Platforms - EBITDA-verlies in 2018 naar verwachting tussen € 40 miljoen en € 35 miljoen; in 2019 zal het EBITDA-verlies naar verwachting € 35 miljoen niet overstijgen (was: maximaal EBITDA-verlies, inclusief de naar rato geconsolideerde joint ventures, zal in 2018 en 2019 € 35 miljoen per jaar naar verwachting niet overstijgen)
Innovation Platforms - terugkerende investeringen ten bedrage van € 20-30 miljoen (was: terugkerende investeringen van € 20-30 miljoen, inclusief investeringen in joint ventures, naar rato)


* Gebaseerd op de wisselkoers BRL/USD wisselkoers van 1 juni 2018 van 3,7.
** In onze balans wordt een voorwaardelijke verplichting opgenomen die is gebaseerd op de contante waarde van de veronderstelde vijf earn out-betalingen.


Corbion acquires Bunge's stake in SB Renewable Oils joint venture
Corbion nv (Euronext Amsterdam: CRBN) ("Corbion") announces that it has completed the acquisition from Bunge Limited (NYSE: BG) ("Bunge") of Bunge's stake in the SB Renewable Oils joint venture.

Corbion has acquired Bunge's 49.9% stake in SB Renewable Oils, a joint venture that operates a facility in Brazil, specializing in the production of algae ingredients, such as Omega 3 rich oil, for aquaculture and animal feed. Corbion now is 100% owner of the plant in Orindiúva, which employs around 170 staff.

"We are delighted to welcome the team in Orindiúva as part of our global family. They are a pivotal part of our Algae Ingredients business, the innovative platform we acquired last year. We are strongly committed to developing this line of business," said Tjerk de Ruiter, CEO Corbion.

Corbion has assumed Bunge's share in the external debt of the joint venture, including accrued interest (BRL 57 million equates to US$ 15 million*) and has repaid Bunge's working capital loan (BRL 29 million equates to US$ 8 million*). Additionally, a 5-year earn-out provision starting in 2021 has been agreed to. This earn-out is based on sales of AlgaPrime DHA, with a maximum present value of US$ 20 million**. As the SB Renewable Oils plant is located adjacent to one of Bunge's sugar mills, long term supply agreements have been secured regarding sugar and utilities. Approval by the relevant regulatory bodies in Brazil has been obtained.

Updated financial guidance
All updated financial guidance based on IFRS figures
All Ingredient Solutions guidance unchanged
Corbion organic net sales growth in 2018-2021 period of 3-6% per annum (was: net sales including proportionately consolidated joint ventures growth of 3-6% per annum)
Innovation Platforms net sales growth >20% per annum (was: 10-30% per annum including proportionately consolidated joint ventures)
Innovation Platforms EBITDA approaching break-even in 2021 (was: EBITDA including proportionately consolidated joint ventures approaching break-even in 2021)
Innovation Platforms 2018 EBITDA loss expected between € -40 million and € -35 million; 2019 EBITDA loss not expected to exceed € -35 million (was: maximum EBITDA including proportionately consolidated joint ventures loss is not expected to exceed € -35 million per annum for the years 2018 and 2019)
Innovation Platforms recurring capex of € 20-30 million (was: recurring capex of € 20-30 million including proportional joint venture investments)

* Based on the BRL/US$ exchange rate on 1 June 2018 of 3.7.
**A contingent liability based on the present value of the assumed 5 earn-out payments will be recorded on our balance sheet.

tijd 09.00
De Midcap 806,45 +5,94 +0,74% Corbion EUR 27,24 +4ct vol. 1.738

04 Jun 2018 --- Corbion has completed the acquisition from Bunge Limited of Bunge's stake in the SB Renewable Oils joint venture. Back in February 2018, Corbion initially confirmed that it was in discussions with Bunge about the potential acquisition of Bunge’s stake in the SB Renewable Oils joint venture.
Bunge disclosed the talks as part of its strategic update, which shows some pressure on the 200-year-old company which was also approached by Archer Daniels Midland (ADM) as part of a takeover bid.
Corbion has now officially acquired Bunge's 49.9 percent stake in SB Renewable Oils, a joint venture that operates a facility in Brazil, specializing in the production of algae ingredients, such as Omega 3 rich oil, for aquaculture and animal feed. Corbion now is 100 percent owner of the plant in Orindiúva, which employs around 170 staff.
“We are delighted to welcome the team in Orindiúva as part of our global family. They are a pivotal part of our Algae Ingredients business, the innovative platform we acquired last year. We are strongly committed to developing this line of business,” notes Tjerk de Ruiter, CEO Corbion.
Corbion has assumed Bunge's share in the external debt of the joint venture, including accrued interest (BRL 57 million equates to US$15 million) and has repaid Bunge's working capital loan (BRL 29 million equates to US$8 million). Additionally, a 5-year earn-out provision starting in 2021 has been agreed to. This earn-out is based on sales of AlgaPrime DHA, with a maximum present value of US$20 million. As the SB Renewable Oils plant is located adjacent to one of Bunge's sugar mills, long-term supply agreements have been secured regarding sugar and utilities. Approval by the relevant regulatory bodies in Brazil has been obtained.
Additionally, in September 2017, Bunge announced its plans to strengthen its edible oil presence with a US$946 million deal to acquire a 70 percent controlling ownership interest in IOI Loders Croklaan. You can read the full story here.
According to Bunge, these transactions expand the companies’ “value-added capabilities, reach and scale across core geographies” to establish itself as a global leader in business-to-business oil solutions.
Speaking in the February edition of our sister publication The World of Food Ingredients, Senior Vice President for Food at Corbion, Ruud Peerbooms discussed other acquisitions and innovations that are driving growth such as the potential market for meat alternatives and the recent TerraVia acquisition.
“If you want to be there that means that you basically need to be active in alternative proteins, which is what they can deliver. So besides the business, we have today in TerraVia, which is in DHA enrichment for feed, part of their portfolio delivers all kinds of alternative protein sources are available,” he says.
“Today their DHA business is fully-scaled, through their joint venture with Bunge, with DHA-rich algae that is mainly used in the aquaculture space. All of the rest is still in development.”

To contact our editorial team please email us at editorial@cnsmedia.com

XEA.nl
Wij schreven in ons verslag 26 mei j.l. van de AVA Corbion al over dit bericht.

Transacties in aandelen Corbion
d.d. prijs 17.30.00 uur omzet aantal transacties idem na 17.35.00 uur en latere
11 juni EUR 27,46 55.465 439 EUR 27,42 73.766 517 17.35.17
11 juni ----------------------- EUR 27,42 3/219 2 17.36.42
Om 17.34,03 EUR 27,60
Zo sturen systemen in korte tijd met de prijsvormingen!!!
12 juni EUR 27,50 38.099 323 EUR 27,50 50.428 389 17.35.24
13 juni EUR 27.52 30.128 330 EUR 27.48 50.332 407 17.35.12
Om 17.34.23 uur EUR 27,64 zo snel drukken systemen de prijsvorming of omhoog. Dit is geen normale handel van vraag & aanbod.
14 juni EUR 27,50 86.696 653 EUR 27,46 104.740 741 17.35.28
Hetzelfde patroon als gisteren.
15 juni EUR 27,52 86.065 588 EUR 27,46 124.295 683 17.35.17
Let op de omzet 38.000 in de 5 spookminuten
Ook nu was bij de afsluiting hetzelfde patroon, als de afgelopen 2 dagen.

zo wordt 't spel gespeeld
Active as of 14 Jun 2018 17:15 CET
# ORDERS # SHARES BID PRICE ASK PRICE # SHARES # ORDERS
5 697 27,52 27,54 337 2
6 1.092 27,50 27,56 1.420 6
5 859 27,48 27,58 1.649 3
5 2.866 27,46 27,60 1.369 5
4 1.068 27,44 27,62 4.605 4
4 1.660 27,42 27,64 1.959 2
5 5.231 27,40 27,66 1.020 3
6 2.799 27,38 27,68 3.983 4
2 460 27,36 27,70 1.090 5
4 1.168 27,34 27,72 400 2
46 17.900* Total 17.832* 36 * verschil 68 aandelen
Zo sturen de systemen de prijsvorming van een aandeel.