Akzo Nobel’s animal healthcare business, Intervet, has agreed to divest some of its feed additives activities to Bulgarian company Biovet. Both parties have agreed not to disclose financial details.
Scheduled to be finalised on July 31, the agreement, which is subject to corporate and governmental approvals, concerns the sale of Intervet’s Sacox, Salocin, Flavomycin, Gainpro, Hostazym and Stenorol products.
“These activities no longer fit in with our core business operations and have become distanced from Intervet’s portfolio from a strategic perspective,” explained Akzo Nobel Board Member Toon Wilderbeek.
Commenting on the deal, President of Biovet, Kiril Domuschiev, said “The distribution and registration rights, intellectual property, trademark and know-how of these sections of Intervet’s feed additive business provide compelling opportunities for our customers and our business.”
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