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FMC exits non-crop business

FMC Corporation has agreed to sell its Global Specialty Solutions (GSS) business to Envu for $350 million, subject to closing working capital adjustment. The deal is expected to close by year-end 2024, subject to regulatory approval and other customary closing conditions. FMC intends to allocate all proceeds to debt reduction.

Bayer sells Environmental Science Professional business

Private equity firm Cinven has agreed to acquire Bayer’s Environmental Science Professional (ESP) business for €2.4 billion. The deal should close in Q2, subject to customary closing conditions. Bayer had originally announced plans to divest the business, which is headquartered in Cary, North Carolina, in February 2021.

ESP offers pest, disease and weed control in non-agricultural areas such as vector control, professional pest management, vegetation management, forestry, turf and ornamentals. In 2021, it employed about 800 people in over 100 countries.

Lonza to sell Specialty Ingredients business

Following a long period of speculation, Lonza has entered into a definitive agreement to sell its Lonza Specialty Ingredients (LSI) business to private equity firms Bain Capital and Cinven for CHF 4.2 billion in order to focus entirely on healthcare. The deal is expected to close in 2H, subject to customary closing conditions.

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