Apollo Global Management Inc. has acquired Univar Solutions Inc., a global chemical and ingredient distributor, for an enterprise value of approximately $8.1 billion.
Through this deal, Univar Solutions shareholders will receive $36.15 per share in cash. The transaction includes a minority investment from a wholly-owned subsidiary of the Abu Dhabi Investment Authority. Univar attracted interest from Platinum Equity as well as Apollo, according to Bloomberg News.
Goldman Sachs & Co. LLC and Deutsche Bank Securities Inc. are serving as financial advisors to Univar Solutions and Wachtell, Lipton, Rosen & Katz is serving as lead counsel to Univar Solutions. Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to the Apollo Funds. JPMorgan Securities LLC is acting as financial advisor to Apollo. BMO Capital Markets, BNP Paribas Securities Corp., Credit Suisse, Guggenheim Securities LLC, HSBC Securities Inc., Mizuho Securities USA LLC, RBC Capital Markets LLC and Wells Fargo Securities LLC are also serving as financial advisors to Apollo. Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel to ADIA.