Platform Specialty Products Signs Definitive Agreement to Acquire Arysta for Approximately $3.51 Billion

Platform Specialty Products Corporation (NYSE:PAH) ("Platform"), a global specialty chemicals company, announced  that it has entered into a definitive agreement to acquire Arysta LifeScience Limited ("Arysta"), backed by the Permira funds for approximately $3.51 billion, subject to regulatory approval.

Arysta has reported net sales of $1.5 billion for the full year 2013 and regions such as Latin America, Africa, Central and Eastern Europe, China and South Asia represented over 65% of Arysta's sales in 2013. 

Arysta's President and Chief Executive Officer, Wayne Hewett, is expected to join Platform's senior leadership team as its President and to lead Platform's three agrochemical businesses i,e  Chemtura AgroSolutions ("CAS"), Agriphar, and Arysta.

The transaction, which is expected to close in the first quarter of 2015, is expected to be funded through a combination of cash on hand,  debt, and equity. The acquisition will not have any impact on Platform's status as a U.S.-domiciled company.