THE WHAT? Swiss drugs company Lonza is said to be eyeing a sale of its Lonza Speciality Ingredients (LSI) unit, according to a report by Reuters.
THE DETAILS The sale is estimated to be worth around 3-3.5 billion Swiss francs ($3.25-3.79 billion), with sources stating that UBS is to send out information packages on LSI to companies such as Clariant and Lanxess, as well as private equity firms, during October.
WHY? While sales of hygiene & home and personal care increased during the pandemic, sales of products for wood protection, oil and gas, crop protection and the composite materials business fell, with Lonza’s 2020 first half sales dropping 5% to 819 million Swiss Francs.
Lonza declined to comment on the potential sale.