Strategic review of REG Life Sciences activities authorized
November 18, 2016
BY Ron Kotrba
Renewable Energy Group Inc.’s board of directors authorized a review of strategic alternatives for its Life Sciences subsidiary, which develops renewable chemicals and fuels with its proprietary microbial fermentation process.
According to REG, the strategic review process will be comprehensive and focused on the best path to maximize shareholder value.
“REG Life Sciences recently announced its first commercial product,” said Daniel J. Oh, REG’s president and CEO. “We believe now is the right time to review strategic alternatives for Life Sciences in order to generate value from this investment. The REG board of directors and management are committed to delivering value for our shareholders, and today's announcement underscores our stated objective to optimize our portfolio.”
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The company says it does not intend to provide updates on the strategic review process until its board of directors approves a specific action or REG determines further disclosure is appropriate.
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