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Bayer’s Animal-Health Unit Sale Draws Interest From Big Buyout Firms

  • Private equity firms including KKR, CVC, Blackstone may bid
  • Auction in second quarter could fetch as much as $9 billion
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Photographer: Luke Sharrett/Bloomberg

Bayer AG is moving ahead with plans to sell its animal-health business as large private equity firms such as KKR & Co. and CVC Capital Partners explore bids, according to people familiar with the matter.

The unit may also draw interest from buyout firms including Advent International, Blackstone Group LP, EQT Partners and Permira as well as industry rivals, the people said, asking not to be identified because considerations are private. The business could fetch as much as 8 billion euros ($9 billion), though the sale won’t start until the second quarter and valuations may change, they said.