FMC Announces ~$403M Strategic Equity Investment by Tessenderlo Group NV

FMC Corporation has entered into a Stock Purchase Agreement with Tessenderlo Group NV for a strategic equity investment totaling approximately $403.2 million. Upon completion, Tessenderlo will own approximately 20% of FMC's outstanding common stock, granting it board representation and other rights subject to the terms of an associated Investor Agreement.

Key Details

• Investment: Tessenderlo Group NV agreed to purchase 30,319,166 shares of FMC's common stock at a price of $13.30 per share, for an aggregate purchase price of $403,244,907.80.
• Ownership Stake: This transaction will increase Tessenderlo's ownership from less than 1.0% to approximately 20.0% of FMC's outstanding common stock upon closing.
• Governance Rights: For as long as Tessenderlo holds at least 10% of the outstanding common stock, it will have the right to nominate one independent director to FMC's Board and appoint one Board observer.
• Additional Terms: The agreement includes a 36-month lock-up period on the shares, customary standstill provisions, preemptive rights for Tessenderlo to maintain its ownership stake, and registration rights for its shares.