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CVC Makes $2B Play for Univar

Private equity firm sets sights on US market with purchase of chemical supplier

By J. Kelman, Newser User

Posted Jul 9, 2007 10:52 AM CDT

(Newser) – Europe's second-largest private equity fund will purchase Univar, one of the world's biggest chemical distributors, in a deal worth $2.1 billion (€1.52 billion), Bloomberg reports. CVC Capital Partners will pay €53.50 per share, a nearly 40% premium over Friday's closing price, to acquire the largest chemical supplier in North America.

Although Univar is a Dutch company, its US penetration will offer CVC the name recognition it has long sought in American private equity, says the Wall Street Journal. CVC manages nearly $30 billion in private equity wealth but to this point has been largely a European player. Univar's stock jumped more than €14 on the news, rising to €53 in midmorning trading.

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CVC Makes $2B Play for Univar

Private equity firm sets sights on US market with purchase of chemical supplier

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OTHER STORIES ON OUR RADAR

private equity • CVC Capital • Univar NV

MOST POPULAR STORIES

[ By Views ]

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More Newser Stories

Private Equity Can Ruin Firms —and Still Profit

Tax loopholes, money tricks benefit bosses like Mitt Romney: James Surowiecki

Romney's Bain Had Loads of Profit, Bankruptcies

Wall Street Journal says Romney's firm didn't always turn things around

Yahoo Attracts Many Suitors, Weak Offers

$20.6B price way down from 2008

Carlyle Group Files for IPO

Huge private equity company to open its books

News Corp Trying to Sell Off MySpace

Bids over $100M expected

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Newser By Users

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