Corbion signs agreement to bid for TerraVia assets

(08/11/17)

 

By Aquafeed.com Staff, 08/10/2017

Corbion has entered into a "stalking horse" stock and asset purchase agreement with TerraVia Holdings, Inc. Corbion offered a cash price of approximately $20 million to purchase the San Francisco-based microalgae manufacturer, which filed for Chapter 11 bankruptcy on August 2.

The acquisition of TerraVia's microalgae platform would extend Corbion's product portfolio into algae-based fatty acids and proteins, while leveraging Corbion's extensive fermentation and downstream processing capabilities.

The execution of the stock and asset purchase agreement is subject to a sale process to be conducted under Section 363 of the U.S. Bankruptcy Code.

 


Click here to read the rest of this article:
http://www.aquafeed.com/news/headline-news-article/7536/Corbion-signs-agreement-to-bid-for-TerraVia-assets/