ParfumGigi@aol.com
18 décembre, 2006 07:52
Bayer sells Wolff Walsrode to Dow Chemical for an undisclosed sum
FRANKFURT (AFX) - Bayer AG said it is selling its cellulose producer Wolff Walsrode to Dow Chemical Company for an undisclosed sum.
Both companies said in a joint statement that the transaction is expected to close in the first half of 2007, subject to regulatory approval.
'As planned the proceeds will help finance the acquisition of Schering', CEO Werner Wenning said.
Bayer announced in March that it would divest its subsidiaries HC Starck and Wolff Walsrode and has since sold HC Starck to a consortium of financial investors comprising Advent International and the Carlyle Group for 1.2 bln eur.
http://finapps.forbes.com/finapps/jsp/finance/compinfo/CIAtAGlance.jsp?tkr=BAY http://www.forbes.com/markets/company_news.jhtml?ticker=BAY
