Apollo’s Takeover of Univar Advances
Univar Solutions has reported that its proposed takeover by Apollo Global Management’s is making progress, with regulatory approvals now secured from the EU, the US, Canada, Brazil, Mexico and China. In addition, the Italian regulator has given its foreign direct investment approval.
The $8.1 billion deal is still pending approval in Turkey, France, Spain, and by foreign direct investment authorities in the US.
"We are pleased with the regulatory approval progress for our transaction with Apollo and look forward to completing the transaction," said Chris Pappas, chairman of Univar Solutions’ board of directors.
Univar, which announced the takeover in March, is expecting the transaction to close around the middle of the third quarter of 2023. The acquisition by Apollo also includes a “minority” investment from a wholly owned subsidiary of the Abu Dhabi Investment Authority.
