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BofAML approaches buyout giants over possible Huntsman sale

15 Jun 2012

Bank of America Merrill Lynch has approached a number of private equity firms including KKR, Bain Capital, Advent International and Warburg Pincus over a possible sale of US chemicals company Huntsman.

The New York-listed business has a market value of around $2.84bn and close to $4bn of debt, Reuters reported on Thursday. Merrill Lynch, now part of Bank of America, also advised Huntsman when it first put itself on sale in 2007.

Advent International is also said to be interested in the sale of New York-listed US chemical giant DuPont’s car paint unit, a $4bn auction that has also attracted early interest from Blackstone and Clayton Dubilier & Rice.

Advisor Credit Suisse has reportedly distributed the group’s financials to a number of potential buyers, although such a large deal is likely to be put in jeopardy due to a lack of debt funding in the credit markets.

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