Tessenderlo Group Invests $403 Million in FMC Corporation
Belgian industrial group Tessenderlo Group has completed a minority equity investment in FMC Corporation, acquiring approximately 20% of the agricultural sciences company's stock for about $403 million.
FMC Corporation, a global agricultural sciences company, and Belgian industrial group Tessenderlo Group announced the closing of a minority equity investment. Tessenderlo Group purchased 30,319,166 shares of FMC common stock at $13.30 per share, totaling approximately $403 million. Following the transaction, Tessenderlo Group holds about 20.0% of FMC's outstanding shares.
As part of the agreement, Tessenderlo Group gains the right to nominate one independent director to FMC's Board of Directors. Luc Tack, CEO of Tessenderlo Group, has been nominated for this role. Tessenderlo Group has also agreed to customary standstill restrictions and a three-year lock-up period on its FMC shares.
FMC Corporation focuses on providing growers with solutions for crop protection, including biologicals, crop nutrition, and digital agriculture technologies, aiming to support food production while adapting to environmental changes.
Tessenderlo Group operates across agriculture, bio-residual valorisation, machinery, electronics, energy, and water solutions. The group is active in over 100 countries and employs approximately 7,000 people.