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Bayer, Degussa to sell PolymerLatex jv for over 200 million euro

Published on 2002-10-28. Author : SpecialChem

 

Bayer AG and Degussa AG will probably sell their 50-50 joint venture PolymerLatex GmbH & Co KG for over 200 million euro, the Financial Times Deutschland reported without citing sources.

The amount is less than the companies wanted, citing Bayer sources.

Bayer and Degussa are in talks with more than three interested parties, which include strategic as well as financial investors.

Bayer had aimed to sell PolymerLatex this year. The paper said that the divestment contract will be signed at best in December or January.

PolymerLatex, which posts annual sales of roughly 400 million euro, makes synthetic latex for gloves, mattresses, emulsion paints as well as for shoes carpets and fabrics.


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