THE WHAT? Lonza is gearing up to spin off its specialty chemicals unit, a report published by Reuters claims, quoting sources ‘close to the matter’.
THE DETAILS UBS and Bank of America are expected to take the lead for a potential IPO of the Lonza Specialty Ingredients division.
Both banks and Lonza declined to comment on the matter when contacted by Reuters.
THE WHY? Lonza is said to be returning to its industrial roots, focusing on its booming Pharma Biotech & Nutrition unit. Lonza Specialty Ingredients saw sales fall 3.2 percent to SF1.7 billion last year – a far cry from Pharma Biotech & Nutrition’s 11 percent jump in revenue.