Cheminova parent examines potential bidders
Cheminova parent company Auriga Industries has started examining options for the potential sale of Cheminova. Auriga indicated in June it would initiate a review of its strategic options. Discussions with several parties regarding a potential transaction are under way and Auriga has engaged advisers to assist in the process. Financial institution J P Morgan was hired by the company for the purpose, Reuters reports. Private equity firms Bain, CVC and EQT, and ChemChina subsidiary Adama Agricultural Solutions (formerly Makhteshim-Agan Industries), are among the potential bidders, the newswire adds. There can be no certainty about the outcome of the discussions, the type of transaction or whether a transaction will occur at all, Auriga says.