November 1, 2018 / 6:17 AM / 16 days ago

BRIEF-Lonza Group Signs Agreement To Divest Water Care Business To Platinum Equity

Nov 1 (Reuters) - Lonza Group AG:

* LONZA FURTHER STRENGTHENS FOCUS ON ITS HEALTHCARE CONTINUUM STRATEGY BY SIGNING AGREEMENT TO DIVEST WATER CARE BUSINESS TO PLATINUM EQUITY

* LONZA TO ACQUIRE LONZA’S WATER CARE BUSINESS AND OPERATIONS FOR USD 630 MILLION

* INCLUSION OF FRENCH BUSINESS IN THIS TRANSACTION IS STILL UNDER DISCUSSION

* AGREEMENT IS EXPECTED TO CLOSE IN Q1 OF 2019, SUBJECT TO CUSTOMARY CLOSING CONDITIONS

* CITI IS ACTING AS FINANCIAL ADVISOR AND JENNER & BLOCK LLP AS LEGAL ADVISOR TO LONZA

* GIBSON, DUNN & CRUTCHER LLP IS ACTING AS LEGAL ADVISOR TO PLATINUM EQUITY ON ACQUISITION Further company coverage: (Reporting by Riham Alkousaa)

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