Rhodia divests food ingredients to Danisco for 320 million euros
The sale price is approximately 320 million euros for a business with a 31,6 million euros 2003 pro forma EBITDA (Earnings Before Interest Taxes Depreciation and Amortization), representing an EBITDA multiple of more than 10 times.
This divestment would provide Rhodia with a capital gain before taxes of more than 200 million euros.
The food ingredients business, which includes the cultures, hydrocolloids and food safety products activities, generated sales of 211 million euros in 2003 and includes 860 employees worldwide.
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