CVC Capital Partners has structured one of Europe's largest buyouts since the summer credit crunch with the €2.5bn ($3.5bn) recommended bid for a listed Dutch chemicals company set to be one of the biggest deals to use major debt funding since the downturn.

CVC is paying $2.2bn for Euronext-listed Univar's equity, plus a further $1.3bn in assumed debt which the company already holds.