As previously disclosed, on June 23, 2022, Avient Corporation, an Ohio corporation (“Avient”), entered into a Sale and Purchase Agreement (as amended, the “Purchase Agreement”) with Koninklijke DSM N.V., a public limited liability company incorporated under the laws of the Netherlands (“Royal DSM”). Pursuant to the Purchase Agreement, Avient agreed to, among other things, acquire from Royal DSM (a) all of the equity of DSM Protective Materials International B.V., a private limited liability company organized under the laws of the Netherlands, DSM Protective Materials B.V., a private limited liability company organized under the laws of the Netherlands, and DSM Protective Materials LLC, a Delaware limited liability company (including their respective interests in their wholly owned subsidiaries, a partially owned subsidiary, and an equity accounted investee), and (b) certain other assets related to Royal DSM’s protective materials business (including the Dyneema® Brand) (such equity and assets together, “DSM Protective Materials”).
The audited combined carve-out financial statements of DSM Protective Materials, which comprise the combined carve-out statement of financial position at 31 December 2021, and the combined carve-out income statement, combined carve-out statement of comprehensive income, combined carve-out statement of changes in Business Equity, and combined carve-out cash flow statement for the year then ended, and related notes thereto, are filed as Exhibit 99.1 to this Current Report on Form 8-K.
The unaudited interim condensed combined carve-out financial statements of DSM Protective Materials, which comprise the unaudited interim condensed combined carve-out statement of financial position as at 31 March 2022 and 31 December 2021, and the unaudited interim condensed combined carve-out income statement, unaudited interim condensed combined carve-out statement of comprehensive income, unaudited interim condensed combined carve-out statement of changes in Business Equity, and unaudited interim condensed combined carve-out cash flow statement for the three months ended 31 March 2022, and related notes thereto, are filed as Exhibit 99.2 to this Current Report on Form 8-K.
The unaudited pro forma condensed combined balance sheet as of March 31, 2022 and the unaudited pro forma condensed combined statements of income for the year ended December 31, 2021 and the three months ended March 31, 2022 giving effect to Avient’s acquisition of DSM Protective Materials are filed as Exhibit 99.3 to this Current Report on Form 8-K.