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Bayer Plans To Sell Rhein Chemie To Advent International

December 1, 2002
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Leverkusen, Germany -- Bayer AG intends to sell its subsidiary, Rhein Chemie Rheinau GmbH, Mannheim, Germany, to a group of financial investors advised by Advent International Corp., Boston, for 215 million euros, including the assumption of debt. The transaction would include the wholly owned subsidiary iSL-Chemie GmbH & Co. KG of K¿rten, Germany, as well as Rhein Chemie affiliates in the United States and Japan, and a Chinese joint venture in which Rhein Chemie owns a 90-percent interest.

In December 2001, Bayer announced its intention to divest Rhein Chemie and other subsidiaries so as to focus more closely on its core businesses.

For more information, visit www.bayer.com.

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