June 8, 2005

Akzo Nobel sells part of feed additives ops to Biovet
 

Akzo Nobel's animal healthcare business, Intervet, will divest some of its feed additives activities to Bulgarian company Biovet.

Though both parties have agreed not to disclose financial details, it is estimated to reach EUR22.5 million.

The agreement is scheduled to be finalized on July 31 and affects these products under Intervet: Sacox, Salocin, Flavomycin, Gainpro, Hostazym and Stenorol.

Akzo Nobel explains that these products no longer fit in with its core business operations, while Biovet sees these products bringing new opportunities to it through their distribution and registration rights, intellectual property, trademark and operational know-how.