03-Dec-2019 - Bayer AG

Bayer completes sale of Currenta stake

Further step in Bayer’s efforts to sharpen focus on core business

Bayer has completed the sale of its 60 percent stake in chemical park operator Currenta to funds managed by Macquarie Infrastructure and Real Assets (MIRA). The two companies had entered into an agreement to this effect back in August. The closing conditions, including approval by the responsible authorities, have now been met. The main reasons for Bayer selling its stake are that its position as a Chempark customer has changed following the carve-out of Covestro and that it has stepped up its focus on its core activities.

“We are delighted to announce that in MIRA, the world’s leading infrastructure asset manager, we have found the right partner to drive the successful development of Currenta while leveraging its international expertise,” said Dr. Hartmut Klusik, member of the Board of Management and Labor Director of Bayer AG. “In addition, MIRA has a long-term focus and will also be a reliable employer for Currenta’s employees.” Bayer and MIRA had also reached an agreement on long-term service and supply contracts. “We will continue to work closely with Currenta moving forward,” Klusik underlined.

Currenta manages and operates infrastructure, energy supply and other essential services across the chemical parks in Leverkusen, Dormagen and Krefeld-Uerdingen. Including a real estate portfolio transferred by Bayer, Currenta is valued with a total enterprise value of 3.5 billion euros before deduction of net debt and pension obligations. In addition, Bayer is selling an extensive package of real estate and infrastructure to the Currenta Group for 180 million euros in order to strengthen the company.

Facts, background information, dossiers
  • Currenta
  • Bayer
More about Bayer
  • News

    Bayer: Good start to 2020

    The Bayer Group has registered a good start to 2020, with business activities in the first quarter greatly marked by the COVID-19 pandemic. “With our life science product portfolio in the areas of health and nutrition, we have shown our ability to successfully continue our business operatio ... more

    Bayer strategically and operationally successful

    Bayer was strategically and operationally successful last year. “We delivered in 2019 and kept our promises in all areas,” Werner Baumann, Chairman of the Board of Management, said on Thursday at the Financial News Conference in Leverkusen. “We achieved our financial targets despite coming ... more

    Norbert Winkeljohann to succeed Werner Wenning as Chairman of Bayer’s Supervisory Board

    Prof. Dr. Norbert Winkeljohann, 62, is to become Chairman of the Supervisory Board of Bayer AG. As decided at Supervisory Board meeting, Winkeljohann will succeed Werner Wenning, 73, who is to step down with effect from the end of the Annual Stockholders’ Meeting on April 28, 2020. Winkeljo ... more

  • Companies

    Bayer S.A./NV.

    Bayer is a global enterprise with core competencies in the fields of health care, nutrition and high-tech materials. Our products and services are designed to benefit people and improve their quality of life. At the same time we want to create value through innovation, growth and high earni ... more

    Bayer Corporation

    Bayer Corporation, headquartered in Pittsburgh, is a subsidiary of Bayer AG, an international health care, nutrition and innovative materials group based in Leverkusen, Germany. In North America, Bayer had 2006 net sales of 7.8 billion euros and employed 17,200 at year end. Bayer’s three s ... more

    Bayer Industriepark Brunsbüttel

    more

More about CURRENTA