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IFF is selling its food ingredients business to CVC Capital Partners for $4.3 billion, the latest move by the company to focus its sprawling business and improve profitability. The flavors, fragrances and ingredients supplier said it will retain a 10% stake in the unit to allow further collaboration and cooperation between IFF and Food Ingredients, while allowing IFF and its shareholders to participate in the growth of the business.
Lilly has outlaid up to $3.83bn to buy Curevo, LimmaTech Biologics, and Vaccine Company. Curevo is being acquired for up to $1.5bn, while LimmaTech is being bought for $780m. The Vaccine Company acquisition is the most valuable, commanding a fee of $1.55bn, with all three deals including an upfront fee and milestone payments.
Ghana will ban the production, importation, sale, distribution, and use of styrofoam takeaway packaging nationwide from January 1, 2027. The country’s EPA says the move aims to reduce plastic pollution, improve sanitation, and protect public health. Ghana joins a wider African push against single-use plastics, following Ethiopia’s plastic bag ban and Egypt’s expanded plastic waste reduction initiatives.
At its meeting on 22nd May, the Supervisory Board of Schaeffler AG resolved to reappoint Dr. Astrid Fontaine, Chief Human Resources Officer at Schaeffler AG, for a further term of five years until December 31, 2031. Dr. Astrid Fontaine has been with the Schaeffler Group since January 2024.