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DSM, Roche Deal Clearing EU Hurdles

Regulatory hurdles are finally being cleared, allowing the DSM acquisition of Roche's vitamin and fine Chemicals Division to move forward. This past week, amendments to the February contact have been implemented including a reduction of the transaction price by EUR 200 million to a revised total of EUR 1.75 million plus 2.24 million ordinary shares in Koninklijke DSM N.V. DSM has waived certain closing conditions, which were part of the purchase agreement.

According to a DSM release regarding the integration, it believes there is a considerable potential for improvement in financial performance, already now foreseen at a level of at least EUR 100 million in operating profit per year, and anticipates closing the transaction in the thrid qurter of 2003.

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