07:57 AM EDT, 10/18/2024 (MT Newswires) -- Avantor ( AVTR ) said Friday that it has completed the divestiture of its clinical services business to Audax Private Equity in a deal valued at around $650 million.

The company said the transaction is expected to generate about $500 million in after-tax cash proceeds and reduce capitalized leases by about $50 million.

Avantor ( AVTR ) plans to use the after-tax proceeds to pay down debt.

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