(Reuters) - Private equity firms are circling Bayer’s (BAYGn.DE) 10 billion-euro ($12.7 billion) plastics business, hoping to divert the German drugmaker from its plan to list the division, two people familiar with the matter said on Wednesday.
Advent, Carlyle (CG.O), Cinven [CINV.UL], CVC [CVC.UL] and KKR (KKR.N) are among those eyeing MaterialScience after Bayer said in September that it planned to spin off the division through a stock market listing, helping it focus on its more profitable life sciences business.
Given the size of the asset, the funds are also in discussions to form consortia, potentially with investors including sovereign wealth funds (SWFs).
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