BioAmber Inc has entered into a definitive agreement to purchase Mitsui & Co Ltd's (Mitsui) entire minority equity position in the Sarnia manufacturing joint venture.
Following the closing of the transaction, BioAmber will own 100 percent of the BioAmber Sarnia production facility. Mitsui will still continue to distribute BioAmber's bio-succinic acid in Asia and other markets.
Given Mitsui's longstanding presence in Canada and its shareholding in BioAmber, the parties negotiated terms that allowed Mitsui to achieve its corporate objectives while enabling BioAmber to assume full ownership of the Sarnia facility.
BioAmber Inc has entered into a definitive agreement to purchase Mitsui & Co Ltd's (Mitsui) entire minority equity position in the Sarnia manufacturing joint venture.
Following the closing of the transaction, BioAmber will own 100 percent of the BioAmber Sarnia production facility. Mitsui will still continue to distribute BioAmber's bio-succinic acid in Asia and other markets.
Given Mitsui's longstanding presence in Canada and its shareholding in BioAmber, the parties negotiated terms that allowed Mitsui to achieve its corporate objectives while enabling BioAmber to assume full ownership of the Sarnia facility.
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