Private equity firm Ardian said on Tuesday it acquired a 50% stake in specialty chemicals maker ANGUS Chemical Company from Golden Gate Capital for a total enterprise value of about $2.25 billion.
San Francisco-based Golden Gate Capital bought ANGUS from The Dow Chemical Company, now Dow Inc, in February 2015 for more than $1 billion and will retain a 50% stake in the chemicals firm.
Ardian said it expects the sale to close by the end of 2020.
Citi and Guggenheim Securities LLC are serving as financial advisors to Ardian, while Morgan Stanley & Co LLC and JPMorgan Securities LLC are serving as financial advisors to Golden Gate Capital.
Source: Reuters.com