Univar gets support from Temasek

摘要

Univar's US$440m initial public offering has been given a boost by the concurrent injection of US$500m into the chemical distributor by sovereign wealth fund Temasek. The investment by the Singapore-based fund is tied to the IPO pricing and both validates the valuation and helps ease the overhang from Univar's present private equity ownership. Temasek is investing US$350m directly into the company and will purchase up to US$150m of stock from CVC Capital Partners and other existing shareholders, gaining in total an 18.3% stake.