Homburger advised Sentarom SA, the controlling shareholder of Firmenich International, in connection with the business combination of Firmenich and Royal DSM N.V.

On May 31, 2022, Firmenich International SA, the largest privately-owned fragrance & taste company in the world, announced its planned business combination with Royal DSM N.V., a global, purpose-led company in Health, Nutrition & Bioscience with shares listed on Euronext Amsterdam (DSM.AS). The business combination will create a global powerhouse in fragrance, animal health, health & nutrition as well as taste & beyond, incorporated and with headquarters in Switzerland.

Firmenich was established in 1895. Today’s shareholders, all direct descendants of Fred and Hugo Firmenich, control the Firmenich group through the family holding company Sentarom SA.

In the transaction, DSM Firmenich, a newly established company incorporated in Switzerland, will launch a public exchange offer to all DSM shareholders. Once this exchange offer is closed, the Firmenich family shareholders will contribute their participations into DSM Firmenich. The transaction is subject to regulatory approvals and further customary conditions and is expected to close in H1 2023.

Based on the reaction of public markets on the date of announcement, the combined company has a pro forma value of approx. EUR 43.5 bn.

Homburger AG advised Sentarom SA in this transaction. The team was led by partner Daniel Daeniker and comprised associates Romain Fakhoury, Léonard Aeschlimann and Oriana Schöni (all Corporate / M&A).