CFFI Ventures closes $60.4M privatization of BIOX

BIOX Corporation (TSX: BX) has completed previously announced privatization transaction by CFFI Ventures Inc.

10293547 Canada Limited, a wholly-owned indirect subsidiary of CFFI Ventures Inc., has acquired all of the issued and outstanding common shares of BIOX, other than common shares held by certain shareholders which were exchanged for common shares of the purchaser, at $1.23 per share in cash.

The transaction valued BIOX total equity at $60.4 million and $34.0 million to minority shareholders. CFFI Ventures and affiliates owned 34.6% of BIOX outstanding shares.

Blair Franklin Capital Partners Inc. acted as financial advisor to BIOX. Wildeboer Dellelce LLP and Torys LLP acted as legal counsel to BIOX and CCFI Ventures respectively.

BIOX common shares will be delisted from the Toronto Stock Exchange shortly hereafter. BIOX also intends to apply to cease to be a reporting issuer in the applicable provinces of Canada.

BIOX is a renewable energy company that owns and operates 287.5 million litres of nameplate biodiesel production capacity at plants located in Houston, Texas and two facilities in southern Ontario. BIOX has an innovative, proprietary and patented production process that is capable of producing the highest quality, renewable, clean burning and biodegradable biodiesel fuel utilizing a variety of feedstocks – from pure seed oils to animal fats to recovered vegetable oils with no change to the production process.

photo credit: BIOX

Ted Liu

Ted Liu, M.Sc. (Mining, Queen's), MBA (Finance, Toronto), is the Editor of Private Capital Journal, CanadaMetals.ca, TechWire.ca, and the former Editor of Canadian Private Equity. Ted has been passionately tracking Canadian private capital industry since 1992, having most recently served as Research Director for The Canadian Venture Capital and Private Equity Association (CVCA).

Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.