October 25, 2007

Europe's Permira buys Japan's Arysta LifeScience for US$2.2 billion

Permira Advisers LLP, Europe's biggest buyout firm, will purchase Arysta LifeScience Corp. for about 250 billion yen (US$2.2 billion).

Permira would conduct the purchase with 100 billion yen cash and top up the rest through loans, according to spokeswoman Minako Hattori.

The company did not reveal the source of the loan.

This would be Permira's first acquisition in Japan and is also Japan's biggest private equity buyout so far this year.

Tokyo-based Arysta develops, manufactures and markets farm chemicals such as insecticides, pharmaceutical additives and veterinary medicine.