Squadra advises MAASH group in the takeover of METEX NOOVISTA 16/07/24

Squadra Avocats has recently advised MAASH group in its takeover of METEX NØØVISTA.

A subsidiary of METabolix Explorer and a leader in the production, by fermentation, of naturally sourced ingredients for use in animal feed, cosmetics, and the biopolymer industry, Metex Nøøvista has been taken over by the Belgian company, Maash, as part of a restructuring procedure.

Metex Nøøvista forms part of Metex group, which uses fermentation to produce naturally sourced ingredients for animal feed and cosmetic products.

Listed on the Paris stock exchange, METabolix Explorer is responsible for carrying out the group’s research and development activities, as well as its financial activities as a holding company, and holds total ownership of its two operational subsidiaries: METEX NøøvistaGo, which operates a factory that produces amino acids through the fermentation of sugar; and METEX Nøøvista, created in 2018, which has, since March 2021, operated a newly constructed factory situated in Saint-Avold (in Lorraine), capable of producing up to 5000 tonnes of naturally sourced propanediol and up to 1000 tonnes of naturally sourced butyric acid.

METEX Nøøvista was required to open up judicial reorganisation proceedings following a ruling on the 25^th of March 2024 from the Paris Commercial Court. A judgement from the Paris Commercial Court on the 25^th of June 2024 authorised the handover of METEX Nøøvista’s assets and business activity to Maash.

Squadra Avocats was represented by Charles Morel and Emilie Rosier.