Apollo to Acquire Univar Solutions in $8.1 Billion All-Cash Deal

Apollo Univar Solutions

New York-listed Apollo announce that funds managed by its affiliates have entered into a definitive merger agreement to acquire the Univar Solutions in an all-cash transaction that values the company at an enterprise value of approximately $8.1 billion.

The deal includes a minority investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority.

Univar Solutions shareholders will receive $36.15 per share in cash, representing a 20.6% premium to the Company’s undisturbed closing stock price on November 22, 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 November 22, 2022.

“We are pleased to have reached this agreement with Apollo, which will provide immediate and certain cash value for Univar Solutions shareholders,” said Chris Pappas, chairman of the Univar Solutions Board of Directors.

David Jukes, president and chief executive officer of Univar Solutions, said, “This transaction reflects the success of our strategy and delivers substantial value to our shareholders. It is a testament to the tireless efforts of my colleagues, whose commitment to our purpose of helping keep our communities healthy, fed, clean, and safe has enabled our success.”

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. 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.

Apollo Private Equity Partner Sam Feinstein said, “We believe Univar can accelerate its long-term strategy as an Apollo Fund portfolio company. We look forward to leveraging our extensive experience in the sector to support management in this exciting next phase.”

Univar Solutions will continue to operate under the Univar Solutions name and brand and maintain a global presence. – BusinessNewsAsia.com