June 2009

Financial advisor to Nordzucker in the acquisition of Danisco Sugar

ATRIUM acted as financial advisor to Nordzucker AG in connection with the acquisition of Danisco Sugar.

Nordzucker produces sugar and bioethanol in Germany, Poland, Slovakia and Serbia. Before the purchase, Nordsucker had revenues of EUR 10 bn and EBITDA of EUR 1.9 bn.

With the acquisition of Danisco Sugar, Nordzucker positioned itself as the second largest sugar producer in Europe and the largest in Northern Europe. The acquisition of Danisco Sugar is in line with Nordzucker’s strategy to take part in the consolidation of the sugar industry in the EU.

Danisco Sugar was the 6th largest sugar producer in Europe with sugar production in Denmark, Sweden, Finland, Lithuania and Germany, with an independent high margin division primarily within beet seeds (Danisco Seed).

Before the acquisition, Danisco Sugar had revenues of approx. DKK 6.8 bn and EBITDA of EUR 1 bn.

The acquisition was approved by the German competition authorities after a sale of Danisco’s German sugar activities.

ATRIUM assisted with the valuation model, taking into account the decommissioning of the EU sugar regime, the bidding process and the financing of the acquisition, which was 100 % debt financed.