Lonza completes $4.5 bln specialty ingredients divestment

Lonza completes $4.5 bln specialty ingredients divestment

Lonza (LONN.S) has completed the divestment of its specialty ingredients business to Bain Capital and Cinven for an enterprise value of 4.2 billion Swiss francs ($4.53 billion), the Swiss contract drug maker said on Friday.

The deal, announced in February, came as the Swiss contract drug manager pledged to focus on its faster-growing drugs and biotech unit.

“As the divestment of the Specialty Ingredients business completes, at Lonza we have an opportunity to consolidate our identity and redouble our focus on long-term growth,” Chairman Albert Baehny said in a statement on Friday.

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