August 2, 2017 / 4:52 AM / 2 years ago

BRIEF-Corbion signs agreement to bid for substantially all of the assets of Terravia

Aug 2 (Reuters) - Corbion NV -

* REG - Corbion signs agreement to bid for substantially all of the assets of innovative microalgae specialist TerraVia

* Corbion offered a cash purchase price of approximately $20 million

* Corbion NV - execution of stock and asset purchase agreement subject to a sale process to be conducted under section 363 of U.S. Bankruptcy code

* As TerraVia’s operations are currently loss making, expects financial commitments to be substantially in excess of purchase price.

* TerraVia announced it filed a voluntary petition under chapter 11 of U.S. Bankruptcy code on 2 August, 2017 Source text for Eikon: Further company coverage:

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