SEVA_ schreef op 10 mei 2022 18:41:
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American Industrial Partners to Consider Ontex Takeover
This content was published on May 10, 2022 - 15:42 May 10, 2022 - 15:42
(Bloomberg) -- American Industrial Partners is considering a takeover of personal-hygiene firm Ontex Group NV, according to people with knowledge of the matter.
New York-based AIP is working with an adviser as it studies an acquisition of Brussels-listed Ontex, the people said, asking not to be identified discussing confidential information. Ontex has a market value of 513 million euros ($541 million).
If AIP succeeded with a takeover, it could combine Ontex with the personal-care business it bought from Domtar Corp. for $920 million last year. Ontex itself weighed a bid for the Domtar unit in 2020.
European investment firm Groupe Bruxelles Lambert SA, which owns nearly 20% of Ontex, may consider remaining invested in the company as part of any deal, the people said. GBL has been exploring the possibility of teaming up with a partner to take Ontex private, Bloomberg News reported in March.
Deliberations are ongoing, and there’s no certainty AIP will decide to proceed with a deal for Ontex, according to the people. Representatives for GBL and Ontex declined to comment, while a spokesperson for AIP didn’t immediately respond to requests for comment.
Founded in 1979, Ontex makes a range of hygiene products for infants and adults that include diapers, tampons and incontinence pads. It has a history of private equity ownership, having in the past been managed by Candover Investments Plc and later Goldman Sachs Group Inc.’s merchant banking arm and TPG Inc. Ontex went public in 2014.
In 2018, when it had a market value of 1.6 billion euros, Ontex rejected a takeover offer from private equity firm PAI Partners as too low. Esther Berrozpe Galindo took over as the company’s chief executive officer at the start of 2021.
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