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    Home»Deals & Transactions»CVC Weighs Bid for $3 Billion Chemical Maker Synthomer
    Deals & Transactions

    CVC Weighs Bid for $3 Billion Chemical Maker Synthomer

    February 25, 20211 Min Read
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    CVC Capital Partners
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    CVC Capital Partners has been exploring a bid for U.K. chemical producer Synthomer Plc, people with knowledge of the matter said. The private equity firm made an initial approach to London-listed Synthomer to gauge its interest in a deal, according to the people, who asked not to be identified because the information is private. The two parties aren’t currently holding any negotiations, one of the people said.

    Shares of Synthomer have risen 46% over the past 12 months, giving it a market value of about 2 billion pounds ($2.8 billion). The company is one of the world’s largest suppliers of latex for medical gloves, which have seen booming demand during the coronavirus pandemic. Synthomer also produces materials used in specialty packaging tape, artificial sports turf, bedding foam and paint.

    A sale of Synthomer would add to the $3.1 billion of chemical deals involving European companies in 2021, a figure that’s already up 74% from a year earlier, data compiled by Bloomberg show. Deliberations are ongoing, and there’s no certainty they will lead to a transaction, according to the people.

     

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    Source: BNN Bloomberg

    By Dinesh Nair, Kiel Porter, Aaron Kirchfeld and Andrew Noël

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    Can't stop reading? This and all news articles are property of their creators, many are not owned or provided by Private Equity Insider. As an event organizer and community platform, we curate content from reliable sources for your suggested reading, and advise you to read the full articles from the referenced authors and sources.

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