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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Private Equity Firm 3i Launches Divestment of Distributor Azelis

1:46 PM MDT | April 4, 2011 | —ian young

Private equity firm 3i Group (London) has launched a process to sell chemical distributor Azelis (Antwerp), and 3i has hired Bank of America Merrill Lynch to invite bids for Azelis, reports say. Azelis and 3i declined to comment on the reports. Azelis is Europe’s third-biggest chemical distributor by sales, behind Brenntag and Univar, with revenues of about €1 billion/year ($1.4 billion). A bid by Brenntag or Univar for Azelis would face antitrust hurdles, however, market sources say. Other private equity firms will likely be among the bidders for Azelis, and...

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