PAI Partners Selling Stake in Chr. Hansen

Buyout firm PAI Partners is selling a 25.7% stake in Danish food ingredients maker Chr. Hansen for roughly 560 million euros ($715.56 million), Reuters reported Wednesday. The buyer is Novo A/S.

(Reuters) – Private equity investor PAI Partners has agreed to sell a 25.7 percent stake in Danish food ingredients company Chr. Hansen to Novo A/S for about 560 million euros ($715.56 million), Chr. Hansen said on Wednesday.

The stock was sold to Novo, which is the main owner of drugmaker Novo Nordisk and industrial enzymes producer Novozymes, at 117 crowns per share.

PAI Partners exits after more than six years as a shareholder in Chr. Hansen.

Novo A/S does not intend to take control of Chr. Hansen but to be a long-term minority shareholder, Novo Chief Executive Henrik Gurtler said in the statement. ($1 = 0.7826 euros) (Reporting by John Acher)