Haldor Topsøe Holding A/S sells minority stake to Temasek
Today, Haldor Topsøe Holding A/S and Temasek have signed an agreement for Temasek to purchase 30 percent of the shares in Haldor Topsoe A/S. Closing of the agreement is expected later this year. Haldor Topsøe Holding A/S, which is 100% owned by the Topsøe family, will remain the long-term majority shareholder.
Haldor Topsoe selected Temasek in recognition of the value that the global investment company would add through its deep insights and connections in Asian growth and other emerging markets.
“We are extremely pleased to welcome Temasek as our new minority shareholder in Haldor Topsøe. As a commercial investor, Temasek’s capital will further enhance our considerable growth potential organically and through potential acquisitions. In addition, Temasek is an experienced investor with significant insights and networks in Asian growth markets, including China. We look forward to truly beginning our collaboration when the agreement closes,” says Jakob Haldor Topsøe, Chairman of the Board of Directors, Haldor Topsøe Holding A/S.
“Topsoe is in a strong market position after some years of consolidation and restructuring. Now, we are ready for growth, and following a successful closing of this deal I am convinced that the collaboration between Topsoe and Temasek will be extremely beneficial for both parties,” says Bjerne S. Clausen, CEO, Haldor Topsoe.
SEB (Skandinaviska Enskilda Banken) and Citi (Citigroup Inc.) are acting as financial advisors and Kromann Reumert is acting as legal advisor to Haldor Topsøe Holding A/S and Haldor Topsoe A/S on the transaction.
Nomura is acting as exclusive financial advisor and Plesner is acting as legal advisor to Temasek.
The transaction price is not disclosed.
Svend Ravn, Media Relations Manager, Haldor Topsøe A/S
Phone: +45 22 75 43 58
About Haldor Topsøe A/S
Haldor Topsøe is the world leader in high-performance catalysts and proprietary technologies for the chemical and refining industries. Based on cutting-edge research and development, we help our customers achieve optimal performance in all phases from design to daily operations – in the most responsible way. Topsøe is headquartered in Denmark and serves customers across the globe. In 2017, our revenue was approximately 760 million US dollars, and we employ some 2,200 employees. www.topsoe.com
Incorporated in 1974, Temasek is a global investment company headquartered in Singapore.
Supported by a network of international offices in 11 locations in Asia, Americas and Europe, Temasek is the owner of a €191 billion ($308 billion) portfolio as at 31 March 2018, with two thirds underlying exposure to Singapore and the rest of Asia. Its investment activities are guided by four key themes and the long term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions.
Temasek has offices in Singapore; and in New York, San Francisco, Washington D.C., São Paulo and Mexico City in the Americas; London in Europe; Beijing and Shanghai in China; Mumbai in India; and Hanoi in Vietnam. www.temasek.com.sg