(Tiper Stock Exchange) – Baxter Internationala US medtech company, has signed a agreement to divest its BioPharma Solutions business to Advent, one of the largest global private equity investors; and Warburg Pincus, a leading growth investor.
Under the terms of the agreement, Baxter will receive $4.25 billion in cash, with net after-tax proceeds currently estimated at approximately $3.4 billion. The transaction is expected to close in the second half of 2023.
Baxter intends to use the proceeds to reduce your debtconsistent with the company’s stated capital allocation priorities.