Univar Shelves IPO as Clayton Dubilier Takes 42.5% Stake

Private equity firm Clayton, Dubilier & Rice (CD&R; New York) has agreed to acquire a 42.5% stake in Univar for about $1.8 billion. Univar will postpone its planned initial public offering (IPO) as part of the deal. Univar announced in June that it sought to raise as much as $862.5 million from an IPO, a move that analysts found surprising given the timing and economic uncertainties (CW, July 5/12, p.11). CVC Capital Partners (New York) will retain a 42.5% stake in Univar, while Univar management and other investors will hold the remaining share. The deal...

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