As reported by Bloomberg News, private equity group Cinven is nearing a deal to acquire Bayer AG’s pest control business, according to people with knowledge of the matter.
According to Bloomberg News, Cinven beat out other investment firms for the Environmental Science Professional unit, the people said, asking not to be identified discussing confidential information. A deal could be announced as soon as the coming week, the people said.
Bayer announced last February its intent to divest the company’s Environmental Science Professional business (ES) as part of “plans to accelerate the strategy implementation of its Crop Science division.”
PCT reached out to Bayer representatives for comment.
A Bayer representative contacted by PCT declined to comment on the Bloomberg report.