Lanxess drops out of bidding for Akzo Nobel unit: sources
FRANKFURT/LONDON/NEW YORK (Reuters) - Germany’s Lanxess (LXSG.DE) has dropped out of a consortium bidding for Akzo Nobel’s (AKZO.AS) specialty chemicals business, two people close to the matter said.
U.S. private equity firm Apollo (APO.N) and consortium partner Dutch fund PGGM remain in the running, the sources said.
Other bidders include private equity firm Carlyle Group (CG.O), Dutch investor Hal Investments, and Advent International partnered with Bain Capital Private Equity, they said.