Private Equity Firm 3i Launches Sale of Distributor Azelis

Private equity firm 3i Group (London) has launched a process to sell chemical distributor Azelis (Antwerp), reports say. 3i has hired Bank of America Merrill Lynch to invite bids for Azelis, reports add. Azelis and 3i declined to comment on the reports. Azelis is Europe's third-biggest chemical distributor by sales, behind Brenntag and Univar, and it has sales of about €1 billion/year. A bid by Brenntag or Univar for Azelis could face antitrust hurdles, however, market sources say. Other private equity firms will likely be among the bidders for Azelis...

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