Leverkusen, Germany – Bayer AG is still unsure whether to IPO or spin off its Bayer MaterialScience division, which achieved sales of €11.7 billion during 2014, according to CEO Marjin Dekkers.
“It depends on how the stock market behaves and its position,” Dekkers said in an annual results conference on 26 Feb. A decision, he added, would be made in the second half of 2015.
Commenting on the performance of BMS, Dekkers said 2014 sales were up 5 percent on 2013 due to higher volumes and a slight fall in overall selling prices.
BMS reported its EBITDA (earnings before interest, taxation, depreciation and amortisation) at €1.1bn – a 4.4-percent increase on the figure it reported for 2013.
Bayer’s supervisory board has agreed to appoint Richard Pott to the supervisory board of BMS and is expected to elect him as the new chairman of the board as well.
Pott, who will replace Werner Baumann, is expected to carry on with Bayer’s plans to float the materials science business on the stock market by mid-2016 at the latest.
This article is only available to subscribers - subscribe today
Subscribe for unlimited access. A subscription to European Rubber Journal includes:
Every issue of European Rubber Journal (6 issues) including Special Reports & Maps.
Unlimited access to ERJ articles online
Daily email newsletter – the latest news direct to your inbox