Carbios has announced the acquisition from Limagrain Ingredients of its entire stake in the capital of Carbiolice, a joint company created in 2016 around an enzymatic biodegradation technology licenced by Carbios.
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Carbios acquires Limagrain Ingredients’ stake in Carbiolice
The acquisition of Limagrain Ingredients’ equity took place on 8 October. This strategic transaction highlights the confidence in Carbiolice’s growth potential and Carbios’ intention to remain its long-term reference shareholder. It also reinforces Carbios' ambitions to position itself as the world leader in biological technologies for the end-of-life of plastics and synthetic fibres. In addition to the enzymatic recycling process developed in-house by Carbios, the PLA biodegradation technology implemented by Carbiolice will enable the commercialisation of a new generation of compostable plastics, making it possible to achieve zero waste for certain flexible and rigid packaging.
CEO Jean-Claude Lumaret said: “The fruitful collaboration between Limagrain Ingredients and Carbios has enabled the development of an industrial biotech that is among the most innovative in Europe in the field of compostable packaging … We are confident that this transaction will enable us to better prepare for the commercial launch of Evanesto and the execution of our growth strategy.”
The Company’s share capital will consist of 8,082,172 shares once settlement-delivery is complete. The new shares will bear dividend rights and will be admitted to trading on Euronext Growth Paris under the same ISIN code FR0011648716 – ALCRB. The settlement-delivery of the new shares and their admission to trading on Euronext Growth Paris will take place on October 13, 2020.