Eurofins Disputes the Validity of SGS’ Purported Termination of the Agreement to Divest Its Crop Science Operations to Eurofins

LUXEMBOURG--(BUSINESS WIRE)--Regulatory News:

As previously announced on 18 December 2023, Eurofins Scientific (Paris:ERF) and SGS had signed an agreement (the “Master Asset Purchase Agreement” or “MAPA”) pursuant to which Eurofins was to acquire SGS’s crop science operations (the “Crop Science Operations”) from SGS.

On 15 July 2024, SGS issued a press release indicating that, despite both parties’ efforts, not all closing conditions were satisfied by the agreed long stop date and that SGS decided to make use of its right to terminate the agreement.

Eurofins disputes the validity of SGS’ purported termination and considers the MAPA to remain in full force and effect. Eurofins remains committed to following through on its acquisition of the Crop Science Operations and is considering all options to ensure the completion of the transaction.

About Eurofins – the global leader in bio-analysis

Eurofins is Testing for Life. The Eurofins Scientific SE network of independent companies believes that it is a global leader in food, environment, pharmaceutical and cosmetic product testing and in discovery pharmacology, forensics, advanced material sciences and agroscience contract research services. It is also one of the market leaders in certain testing and laboratory services for genomics, and in the support of clinical studies, as well as in biopharma contract development and manufacturing. It also has a rapidly developing presence in highly specialised and molecular clinical diagnostic testing and in-vitro diagnostic products.

With ca. 62,000 staff across a decentralised and entrepreneurial network of more than 900 laboratories in over 1,000 companies in 62 countries, Eurofins offers a portfolio of over 200,000 analytical methods to evaluate the safety, identity, composition, authenticity, origin, traceability and purity of a wide range of products, as well as providing innovative clinical diagnostic testing services and in-vitro diagnostic products.

Eurofins companies’ broad range of services are important for the health and safety of people and our planet. The ongoing investment to become fully digital and maintain the best network of state-of-the-art laboratories and equipment supports our objective to provide our customers with high-quality services, innovative solutions and accurate results in the best possible turnaround time (TAT). Eurofins companies are well positioned to support clients’ increasingly stringent quality and safety standards and the increasing demands of regulatory authorities as well as the evolving requirements of healthcare practitioners around the world.

The Eurofins network has grown very strongly since its inception and its strategy is to continue expanding its technology portfolio and its geographic reach. Through R&D and acquisitions, its companies draw on the latest developments in the field of biotechnology and analytical chemistry to offer their clients unique analytical solutions.

Shares in Eurofins Scientific SE are listed on the Euronext Paris Stock Exchange (ISIN FR0014000MR3, Reuters EUFI.PA, Bloomberg ERF FP).