Apollo Global Management Takes Univar Solutions Private In $8.1B All-Cash Transaction

  • Apollo Global Management Inc APO has agreed to acquire chemical and ingredient distributor Univar Solutions Inc UNVR in an all-cash transaction that values the company at an enterprise value of approximately $8.1 billion.
  • The transaction includes a minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA).
  • The agreement provides that Univar Solutions shareholders will receive $36.15 per share in cash, representing a 20.6% premium to its undisturbed closing price on Nov. 22, 2022.
  • 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.
  • The transaction is expected to close in the second half of 2023
  • Upon completion of the transaction, shares of Univar Solutions will no longer trade on the New York Stock Exchange, making it a privately held company.
  • Apollo held $8.4 billion in cash and equivalents as of Dec. 31, 2022.
  • Price Action: UNVR shares are trading higher by 12.45% at $35.05 in premarket on the last check Tuesday.
  • Photo Via Company
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