Lonza has entered into a definitive agreement to divest its Capsules & Health Ingredients (CHI) business to Lone Star Funds for an enterprise value of $3 billion. Lonza will realize upfront cash proceeds of $2.2 billion and retain a 40% stake in the business, with additional preferential participation in its future exit. Lonza’s proceeds on exit are subject to Lone Star receiving an initial return equal to its equity investment.  The transaction is the last step to complete Lonza’s strate...