Investment fund Ardian acquires 50% stake in ANGUS Chemical

(Reuters) – Private equity firm Ardian said on Tuesday it acquired a 50% stake in specialty chemicals maker ANGUS Chemical Company from Golden Gate Capital for a total enterprise value of about $2.25 billion.

San Francisco-based Golden Gate Capital bought ANGUS from The Dow Chemical Company, now Dow Inc DOW.N, in February 2015 for more than $1 billion and will retain a 50% stake in the chemicals firm. (reut.rs/33RQOWv)

Ardian said it expects the sale to close by the end of 2020.

Citi and Guggenheim Securities LLC are serving as financial advisors to Ardian, while Morgan Stanley & Co LLC and JPMorgan Securities LLC are serving as financial advisors to Golden Gate Capital.

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