Clifford Chance

Clifford Chance advises J.P. Morgan on bridge financing facility of EUR 3.0 billion in connection with DSM-Firmenich merger

International law firm Clifford Chance has advised its long-standing client J.P. Morgan on the bridge financing facility of EUR 3.0 billion in connection with the merger of DSM-Firmenich.

DSM and Firmenich announced that they have entered into a business combination agreement to establish the leading creation and innovation partner in nutrition, beauty and well-being (“DSM-Firmenich”). The merger is to be effected through a public offer for DSM shares in exchange for DSM-Firmenich shares and contribution of Firmenich shares to DSM-Firmenich in exchange for DSM-Firmenich shares and EUR 3.5 billion cash. DSM will finance the cash payment to be made in connection with the merger from available cash resources. To assist DSM therein, it has entered into a bridge financing facility of EUR 3.0 billion as borrower with JPMorgan Chase Bank, N.A., London Branch as underwriter.

The Clifford Chance team was led by Titus de Vries and further consisted of Tyson Reid, Daniela Chilkevitsh, Han Teerink and Jeroen Thijssen.