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Kekst & Co. handles Platform Specialty Products, which the Wall Street Journal reported today is in “advanced talks” on a $3B deal to sell its agricultural chemicals unit to London’s Wilmcote Holdings.
The West Palm Beach (FL) company, which announced a plan last August to separate its ag and performance solutions (consumer electronics, automotive, energy specialty chemicals) groups into separate businesses, confirmed the discussions with Wilmcote as well as several other parties.
“We are fortunate to have options, and we will keep all of our stakeholders apprised as and when appropriate,” PSS said in a statement.
The WSJ noted that the $3B ag sale proceeds would go a long way in reducing PSS’ $5.5B debt and power its plan to form two separate business to help boost “an underperforming stock.”
Wilmcote, which relies on Teneo for financial PR, said discusssons with PSS are ongoing, but there is no certainty that a deal will happen. Trading of its shares on the London Stock Exchange were suspended.
Kekst, which is owned by Publicis Groupe, has Liz Cohen on the PSS beat.
Edelman handles Viking Holdings, the river and ocean luxury cruise line that plans to raise $1B via an IPO priced in the $21 to $25 per share range.
Teneo is handling the initial public offering of CVC Capital Partners, one of Europe’s largest private equity firms with nearly $200B in assets under management.
Brunswick Group represents Endeavor Group Holdings as it agrees to go private via its acquisition by Silver Lake technology investment firm, which is handled by Edelman Smithfield.
Tod Donhauser, a nine-year veteran of Edelman, has joined H/Advisors Abernathy as managing director and head of its San Francisco office.
Intelligent Group Ltd, a Hong Kong-based financial PR firm, has priced its initial public offering of 1.9M shares at $4, which is the low end of the $4 to $5 range.
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