Bayer plans to retain GE Bayer Silicones stake

By Patrick Raleigh, ERJ On-line news editor

Leverkusen. Germany-Bayer AG plans to retain the group's 49-percent stake in GE Bayer Silicones, its joint venture with GE Corp., according to a Bayer spokesman. The group had previously signaled its intention to place the holding within Lanxess AG-the chemicals, rubber and plastics supply firm, which is to be spun off from Bayer in early 2005.

The proposal concerning GE Bayer Silicones will be among the items on the agenda of a shareholders' EGM (extraordinary general meeting) on 17 Nov, concerning the Lanxess spin off, the spokesman said in a telephone interview.