Temasek/Dahlia’s Secondary Block Trade of Univar Shares
December 22, 2016
Cleary Gottlieb represented Temasek Holdings (Private) Limited and its subsidiary Dahlia Investments Pte. Ltd., as selling stockholder (Dahlia), in a registered secondary block trade of common stock of Univar Inc.
Prior to the offering, Temasek/Dahlia held approximately 16.3 percent of the outstanding common stock of Univar. Dahlia and investment funds associated with Clayton, Dubilier & Rice, LLC together sold an aggregate of 12.5 million shares to Goldman, Sachs & Co., the sole underwriter of the offering, at a purchase price of $25.08 per share for aggregate net proceeds of $313.5 million. Dahlia sold 4,475,627 shares in this block trade for net proceeds of approximately $112.2 million. Following the completion of this offering, Temasek/Dahlia continue to hold approximately 13.1 percent of the outstanding common stock of Univar. The offering priced on December 12, 2016, and closed on December 15, 2016.
Temasek is an investment holding company owned by the Singapore government. Univar is a leading global chemical distributor headquartered in Downers Grove, Illinois, and its common stock is listed on the New York Stock Exchange.