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5 months ago
BRIEF-AgroFresh Solutions announces various agreements with the Dow Chemical Company and Avenue Capital
April 5, 2017 / 8:18 PM / 5 months ago

BRIEF-AgroFresh Solutions announces various agreements with the Dow Chemical Company and Avenue Capital

April 5 (Reuters) - AgroFresh Solutions Inc

* AgroFresh Solutions announces various agreements with the Dow Chemical Company and Avenue Capital

* AgroFresh - Revisions to tax receivables agreement, warrant purchase agreement and payable balances provides immediate estimated benefit of about $85 million

* Dow has also agreed to buy up to 10% of AgroFresh's outstanding shares through open market purchases

* AgroFresh Solutions-Dow, Avenue Capital agreed to make available up to $100 million of borrowing capacity for potential strategic acquisitions by company

* AgroFresh Solutions Inc- Net present value of tax receivables agreement liability will be reduced by $65 million

* AgroFresh Solutions - Additionally, co, Dow and Avenue agreed to terminate warrant purchase agreement entered in connection with business combination

* AgroFresh - Co's obligations on payments to be reduced to 50% of tax savings related to step-up in value of assets that occurred in connection with deal Source text for Eikon: Further company coverage:

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