Degussa closes the sale of Viatris
August 22, 2002 - Having received the necessary approval from the antitrust authorities, Degussa AG, Dusseldorf/Germany, has now closed the sale of VIATRIS GmbH & Co. KG to the global private equity firm, Advent International Corporation, Boston, USA. The purchase price was paid. VIATRIS, which is headquartered in Frankfurt/Germany, is a separate organizational and legal entity spun off from the Health Products business unit of Degussa's subsidiary ASTA Medica as part of the reorganization of these operations.
In the first six months of 2002, Degussa made good progress with the strategic restructuring of its portfolio, which was initiated last year. As part of its successful refocusing on specialty chemicals, since the start of this year the Degussa Group has divested five operations no longer ranked as core businesses. These are the gelatins and textile additives operations, SKW Piesteritz, Degussa Bank and Viatris. Degussa has now disposed of nearly 90 percent of the sales totaling EUR 6.5 billion identified for divestment.
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