02 Aug 2017 --- Corbion has signed an agreement to bid for substantially all of the assets of innovative microalgae specialist TerraVia, as the bidding war for the beleaguered microalgae company begins. Corbion announced that it has entered into a "stalking horse" stock and asset purchase agreement with TerraVia Holdings, Inc., a food and specialty ingredients company with a broad and diverse platform centered on ingredients and branded products derived from microalgae. The execution of the stock and asset purchase agreement is subject to a sale process to be conducted under Section 363 of the US Bankruptcy Code.
