An unknown buyer agreed to acquire Emulsifiers business from Corbion N.V. (ENXTAM:CRBN) on December 1, 2022. As of August 10, 2023, the sale by Corbion of its Emulsifiers business is continuing to progress and expected to be completed by end of the year 2023. As of January 26, 2024, Kingswood Capital Management, L.P. singed a binding agreement to acquire Emulsifiers business from Corbion N.V for $362 million with expected net cash proceeds of approximately $275M, post tax and transaction costs.

The sale, which is contingent upon the satisfaction of certain conditions, including regulatory approvals and transaction is expected to close in the second quarter of this year. Kirkland & Ellis LLP acted as legal advisor and Configure Partners, LLC acted as debt advisor to Kingswood Capital Management, L.P. Lazard B.V. acted as financial advisor and Stinson LLP acted as legal advisor to Corbion N.V.