Bayer Plans To Sell Rhein Chemie To Advent International
December 1, 2002
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.
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