Singapores Temasek Agrees To Buy 30% Stake In Danish Firm Haldor

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A woman passes a logo of state investor Temasek Holdings at their office in Singapore July 8, 2014. REUTERS/Edgar Su

Singapore state investor Temasek Holdings has clinched a deal to acquire a stake of about 30 percent in Danish chemicals company Haldor Topsoe A/S, in a transaction that values the firm at roughly $1.5 billion, a source with direct knowledge of the matter said.

As part of the deal, Temasek will subscribe to secondary shares issued by the Topsoe family, which currently owns 100 percent of the company, the source said.

The Topsoe family owns the firm, a provider of catalysts and proprietary technology for the chemical and refining industries, via Haldor Topsoe Holdings A/S. Haldor Topsoe employs about 2,300 staff and logged revenue of about $760 million in 2017.

Last June, the owners started a process to find a financial minority investor in order to accelerate growth.

There was no immediate response from Haldor Topsoe to a Reuters query sent outside normal office hours in Denmark. A Temasek spokesman declined to comment.

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Reuters