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Bain, Cinven Near Deal for $4.4 Billion Lonza Ingredients Unit

  • The transaction is expected to close in second half of year
  • Business had been hotly contested among private equity firms
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Bain Capital and Cinven agreed to acquire Lonza Group AG’s specialty ingredients unit, bringing to a close one of the most hotly contested sales in European chemicals.

The deal is worth 4.2 billion Swiss francs ($4.7 billion), including debt, according to a statement Monday, confirming a Bloomberg News report. The transaction, scheduled to close in the second half of 2021, will refocus Lonza as a pure-play partner to the health-care industry, and the cash flow from the sale will accelerate its strategic priorities, the company said.