CORN PRODUCTS ACQUIRES NATIONAL STARCH FROM AKZONOBEL

摘要

AkzoNobel says it has agreed to sell its National Starch (Bridgewater, NJ) business to Corn Products International (Westchester, IL) for $1.3 billion in cash. The buyer will also assume certain pension and employee benefit liabilities. The acquisition marks Corn Products' entry into Europe, Australia, and New Zealand, as well as the Chinese food market. Corn Products expects the acquisition to be accretive to earnings by late-2011, and to yield $50 million in annual synergies by the end of 2012.