Shandong Luba Chemical Co.,Ltd
Beijing Multigrass Formulation Co., Ltd.

Bayer further reduces holding in Covestroqrcode

Jan. 11, 2018

Favorites Print Jan. 11, 2018
Covestro AG
Follow
Bayer AG is reducing its interest in Covestro as part of an accelerated bookbuilding process with a targeted volume of approximately EUR 1.5 billion. The placement was launched on Wednesday after market close and is exclusively aimed at institutional investors. Credit Suisse and Goldman Sachs International are acting as joint bookrunners. As part of the placement, Bayer has agreed to a 90-day lock-up period. 
 
The direct interest that Bayer currently holds in Covestro is 24.6 percent, while Bayer Pension Trust holds a further 8.9 percent. As already announced, Bayer intends to achieve full separation from Covestro in the medium term. 
 

0/1200

More from AgroNews

Magazine

  • 2018 India Pesticide Suppliers Guide 2018 Latin America Focus
  • 2018 Seed Special 2018 Biologicals Special
  • 2018 Formulation & Adjuvant Technology Chinese issue of Annual Review 2017

Subscribe to daily email alerts of AgroNews.