Blackstone, CVC Are Among Suitors for Bayer Pest Control Unit
(Bloomberg) -- Blackstone Inc. and CVC Capital Partners are among those considering bids for Bayer AG’s pest control products, used for everything from killing rats to maintaining golf courses, according to people familiar with the matter.
Bayer’s Environmental Science Professional business is also attracting initial interest from Bain Capital, Carlyle Group Inc., Cinven, Platinum Equity and Triton, the people said, asking not to be identified discussing confidential information. Bayer is seeking about 2 billion euros ($2.3 billion) for the asset, they said.
Deliberations are ongoing and there’s no certainty that any of the suitors will proceed with offers, according to the people. Representatives for Bayer, Blackstone, CVC, Bain, Carlyle, Cinven and Triton declined to comment. A spokesperson for Platinum couldn’t immediately provide a comment.
Bayer’s ESP business provides pesticides that can be used to combat rodent and insect infestations, as well as kill weeds and maintain lawns. It also offers a digital pest management system.
German-listed Bayer announced its intention to sell ESP, which generated 2019 sales of about 600 million euros, in February in order to focus on its core agricultural operations.
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