Neste to acquire majority control of Dutch animal fat trader
May 29, 2018
BY Neste Corp.
Neste, a producer of renewable fuels from waste and residues, and IH Demeter B.V., a trader of animal fats and proteins, have agreed that Neste acquires sole control and 51 percent of the shares of IH Demeter B.V., making Neste the controlling shareholder. The current owners shall remain as co-owners. The transaction is awaiting for and is subject to regulatory approval.
“This is an important step for Neste in our strategy of building a global waste and residue raw material platform to secure raw material availability and competitiveness,” said Kaisa Hietala, executive vice president of renewable products business area of Neste. “We are very happy that the owners of IH Demeter B.V. accepted our offer and trust us to develop the business further. IH Demeter B.V. has a long history, and a solid track record of cooperating with Neste. With an efficient European-wide logistical setup, the company is well positioned to serve Neste in delivering future raw material volumes to our renewable product refineries.”
Floris Ebeli of IH Demeter B.V. said, “We are proud of our raw material sourcing know-how and our capability of managing logistics of animal fats and proteins. The company has a long and successful history in operating as a family owned business. Now, we are happy to join Neste to further build up our business and secure future growth.”
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The sale and purchase agreement has been signed and parties have agreed that the purchase price will not be disclosed. The new company is planned to be called Neste Demeter B.V.
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