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TNO wants to sell a majority stake in TNO Bedrijven BV

Strengthening the innovation flywheel • 20 Jun 2016

Today TNO announced its intention to sell a majority stake in TNO Bedrijven BV (TNO Companies) during the course of 2016. This is a step that is in keeping with TNO’s long-term strategy to reinforce the technology transfer to industry.

Muscle and flywheels

Entering into a strategic partnership with an external party boosts the commercial and financial muscle of TNO Bedrijven BV. It even strengthens the strategic knowledge position of TNO. “In this way we kill two birds with one stone,” says CEO Paul de Krom of TNO.

Minister Kamp

Minister Kamp of Economic Affairs: “As a key Dutch knowledge institute, TNO is a link between science and industry. The proposed sale will improve the positioning of TNO, creating a clearer distinction between the public and private role of the knowledge institute. For the companies involved, too, the sale of a majority stake by TNO has some important benefits. Soon they will be able to work with an even greater business focus and thus gain more opportunities to attract external finance.”

On Friday 16 June, the minister informed parliament in a letter concerning the proposed sale of the majority stake by TNO. While TNO is able to take this decision independently, the minister does have the option of excluding certain elements of TNO from the sale, for example on account of the public role of these companies or to prevent intellectual property of important strategic importance being transferred to private parties. This will be discussed between TNO and the Ministry.

This week an independent corporate finance consultant will start investigating what the market holds. If enough interest is shown by a strategic partner that shares the long-term vision and mission of TNO and TNO Bedrijven BV, TNO will look to complete a transaction during the second half of the year.

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