Skip to main content
Sister Publication Links
  • Rubber & Plastics News
Subscribe
  • My Account
  • LogIn
  • News
  • Technology Focus
    • Features
    • Technical Papers
    • Analysis: Rubber mixing plants of the future
      Analysis: US probes dumping by ESBR suppliers
      Opinion: Tire labels stuck in a rut
      Analysis: NR pricing takes one step forward, two steps back
    • White paper: Role of tire innerliners in improving 'in-use rolling resistance'
      White paper: Why tire air retention matters now more than ever
      Nippon Soda: Use of 1,2-polybutadiene in CSM rubber applications
      Elastomers for Sustainability Top 10
  • Events
    • ERJ Events
    • ERJ Livestreams & Webinars
    • Industry Events
    • Journey to Automation Awards 2020
      Sustainability: Top 10 E4S projects table
  • Maps & Reports
  • People
  • Directory
  • Digital Edition
  • Brainiac
MENU
Breadcrumb
  1. Home
  2. News
July 16, 2004 12:00 AM

Bayer opts to spin off Lanxess to shareholders

ERJ Staff
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    By Patrick Raleigh, ERJ On-line news editor

    Leverkusen, Germany-Bayer AG has decided to separate off its Lanxess subsidiary via a spin off to its own shareholders rather than an initial public offering (IPO)-its other stated option for the chemicals, rubber and plastics unit.

    The spin off, which will see Lanxess listed separately on the Frankfurt stock exchange at the start of 2005 is subject to approval of an Extraordinary Stockholders' Meeting in mid-November, said Bayer. The group added that it will give full details the spin-off in the notice of the meeting.

    “In the current stock market climate, a spin-off to Bayer stockholders is the best route to a listing for Lanxess. That way the present owners of Bayer's assets automatically remain the owners of the assets being transferred to Lanxess,” explained Werner Wenning, Bayer CEO in a 16 July press statement.

    Germany's capital markets have shown little appetite for IPOs this year, as evidenced by a recent offering by Deutsche Post AG, which raised just half its target funds.

    Lanxess' business is developing according to plan, according to Wenning. The Euro6000-million turnover unit has been operating independently from Bayer since 1 July.

    RECOMMENDED FOR YOU
    German rubber industry to return to double-digit growth in 2021
    German rubber industry to return to double-digit growth in 2021
    Yokohama rings the changes with YX2023
    Yokohama rings the changes with YX2023
    Synthomer dismisses takeover reports
    Synthomer dismisses takeover reports
    Free Newsletters

    Breaking news and in-depth coverage of essential topics delivered straight to your inbox.

    Subscribe today

    Get the latest news impacting the European rubber industry, from breaking news to razor-sharp analysis, in print and online.

    Subscribe now
    Connect with Us
    • LinkedIn
    • Twitter
    • Youtube

    Logo
    Contact Us

    @ 2019 European Rubber Journal. 
    European Rubber Journal is published bi-monthly by NUERJ Ltd.

    Registered Office: Castle House, 89 High Street,
    Berkhamsted, Hertfordshire HP4 2DF, United Kingdom. 

    Tel. + 44 (0)203 196 0141 

    Registered No. 13104613 England

    Email: [email protected]

    Website www.european-rubber-journal.com

    Customer service 

    Tel. + 44 (0)203 196 0141 

     

    Resources
    • About us
    • Contact Us
    • Advertise with Us
    • Media Kit
    • Ad Choices Ad Choices
    • Sitemap
    Legal
    • Terms and Conditions
    • Privacy Policy
    • Privacy Request
    Copyright © 1996-2021. Crain Communications, Inc. All Rights Reserved.
    • News
    • Technology Focus
      • Features
      • Technical Papers
    • Events
      • ERJ Events
      • ERJ Livestreams & Webinars
      • Industry Events
    • Maps & Reports
    • People
    • Directory
    • Digital Edition
    • Brainiac