Univar Solutions to be acquired by Apollo Funds
Univar Solutions and Apollo have announced that funds managed by affiliates of Apollo (the “Apollo Funds”) have entered into a definitive merger agreement to acquire the company.
According to a press statement, the merger agreement, which has been unanimously approved by the Univar Solutions Board of Directors, provides that Univar Solutions shareholders will receive USD 36.15 (EUR 33.56) for each share of common stock they own. The transaction will be financed with equity provided by the Apollo Funds, a minority equity investment from a wholly owned subsidiary of Adia and a committed debt financing package.
Closing expected in the second half of 2023
The transaction is expected to close in the second half of 2023, subject to customary closing conditions, including approval by Univar Solutions shareholders and receipt of regulatory approvals. The transaction is not subject to a financing condition. Upon completion of the transaction, shares of Univar Solutions common stock will no longer trade on the New York Stock Exchange, and Univar Solutions will become a privately held company. Univar Solutions will continue to operate under the Univar Solutions name and brand and maintain a global presence.
