Private equity-owned chemical distributor Univar Inc is poised to select Deutsche Bank Group AG, Goldman Sachs Group Inc and Bank of America Corp to lead an initial public offering, according to people familiar with the matter. Clayton, Dubilier & Rice LLC (CD&R) and CVC Capital Partners Ltd have been exploring an IPO of Univar that could value the largest chemicals distributor in North America at more than $6 billion, Reuters reported in April.Univar's owners have now decided which investment banks will lead the IPO and are set to meet more banks in the coming days to hand out junior underwriting roles and formalize the mandates, the people said this week.The sources asked not to be identified because the discussions are private. CD&R, Goldman Sachs and Bank of America failed to comment while Univar, CVC and Deutsche Bank did not respond to requests for comment.Univar operates a network of 260 distribution facilities around the world, represents more than 3,500 chemical producers, and has about 115,000 customers, according to its website.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 2.07% or $-0.33/share to $15.59. In the past year, the shares have traded as low as $12.13 and as high as $18.03. On average, 89325000 shares of BAC exchange hands on a given day and today's volume is recorded at 73652512.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS fell by 0.56% or $-0.93/share to $165.43. In the past year, the shares have traded as low as $148.71 and as high as $181.13. On average, 3039570 shares of GS exchange hands on a given day and today's volume is recorded at 2004076.
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