Univar Files Plans For $862.5M IPO
In the first quarter, the company said it earned $3.6 million, compared with a loss of $10 million in the first three months of 2009. Revenue increased 1 percent to $1.81 billion in the quarter.
1 Jul 2010 --- Univar Inc. has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offering of shares of its common stock. The offered shares will include shares to be sold by the Company and shares to be sold by the Company’s sole stockholder, Univar N.V. The indirect majority shareholders of Univar N.V. are investment funds advised by CVC Capital Partners Advisory (U.S.), Inc. The total number of shares to be offered and the price range for the offering have not yet been determined.
The Company intends to use the net proceeds it receives from the offering to redeem or repay a portion of its outstanding indebtedness and for general corporate purposes. The Company will not receive any of the proceeds from the sale of shares by the selling stockholder. Founded in 1924 and headquartered in Redmond, Washington, Univar is a leading global distributor of commodity and specialty chemicals.
Univar Inc. said it plans to raise as much as $862.5 million in an initial public offering. In the first quarter, the company said it earned $3.6 million, compared with a loss of $10 million in the first three months of 2009. Revenue increased 1 percent to $1.81 billion in the quarter.
Goldman, Sachs & Co. and BofA Merrill Lynch will act as joint book-running managers for the proposed offering. The offering will only be made by means of a prospectus.
