Jul 8, 2021Isagro S.p.A. soon to be owned entirely by Gowan Co. LLC
Yuma, Arizona-based Gowan Co. LLC announced July 7 the end of the acceptance period of the mandatory tender offer on all of the ordinary shares of Isagro S.p.A. not already owned by Gowan.
Currently, Gowan indirectly owns over 91% of the shares of Isagro S.p.A. and as a result of the completion of the MTO Isagro S.p.A. will be delisted from the Italian stock exchange before the end of August 2021. According to a news release, Gowan anticipates that it will purchase all additional outstanding shares within the coming days.
In accordance with Italian law, Gowan has reached the prescribed 90% threshold for initiating a sell-out period, which will begin on July 12, 2021. During the sell-out period, Crop Demetra, a holding company of Gowan Company, will seek to purchase the remaining outstanding shares in the period ending July 30 2021.
Complete terms of the agreement in their original format can be found here.
Immediately after taking the organization private, Gowan plans to begin integrating the two companies, allowing the new organization to expand commercial opportunities while sharpening their manufacturing and scientific acuity.
Gowan Group is a global, family-owned agriculture solutions business headquartered in Yuma, Arizona, U.S.A. Gowan specializes in developing, marketing, and manufacturing global agriculture inputs such as crop protection products, seeds and fertilizers. Gowan began in 1962 as a local crop consultancy business helping growers identify the right crop protection solutions to help their farms thrive. Today, Gowan has over 27 entities in 15 countries and sales in over 70 countries. Across the world, the Gowan Tribe strives to understand the needs of local markets and provide solutions to critical pest problems. Using sound science and the coordination of regulatory, marketing, and sales expertise, Gowan then brings products to market that are essential for growers.
Isagro S.p.A., an independent company born in 1993 with Montecatini/Montedison origin, is listed on the Milan Stock Exchange since 2003. Initially based on the discovery and development of new chemical molecules, the last one being Fluindapyr, the company leads today a group offering agricultural solutions at low environmental impact, with a growth project focused on biorationals as part of its new business model aimed also at capitalizing on the current product portfolio qualified for an integrated crop management.