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Apollo Global to acquire chemicals co

Apollo Global Management is to acquire Univar Solutions, a specialist chemical maker and distributor, in an all-cash transaction valued at around $8.1 billion including debt. The deal includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA).

Under the terms of the transaction, Univar Solutions shareholders will receive $36.15 per share in cash, which represents a 20.6% premium to the company’s closing stock price on 22 November, 2022. The transaction consideration also represents a premium of 33.6% to the volume-weighted average price of Univar Solutions for the 30 trading days ending on 22 November, 2022.

The transaction, which is expected to close in the second-half of 2023, subject to customary closing conditions, will be financed with equity provided by the Apollo Funds, ADIA’s minority investment, and a committed debt financing package.

Upon completion, shares of Univar Solutions common stock will no longer trade on the New York Stock Exchange, and the business, which will continue to operate under the Univar Solutions name and brand, will become a privately held company.

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