Cinven is nearing a deal to acquire Bayer AG’s pest control business, according to people with knowledge of the matter.
The private equity group beat out other investment firms for the Environmental Science Professional unit, the people said, asking not to be identified discussing confidential information. A deal could be announced as soon as the coming week, the people said.
Bayer has been seeking a value of about $2.3bn for the business, Bloomberg News reported last year. As with all deals, talks could still be delayed or fall apart, the people said.
The unit had attracted interest from suitors including CVC Capital Partners and Brookfield Asset Management Inc., though some decided to drop out of the process, the people said.
Read more: BNN Bloomberg
