Sale of PolymerLatex completed

Bayer/Degussa joint venture sold to Soros Private Equity Partners

12-May-2003

Bayer and Degussa have sold PolymerLatex GmbH & Co. KG of Marl, Germany, for EUR 235 million to financial investor Soros Private Equity Partners. The transaction announced in March 2003 was closed on May 9, 2003 after approval had been received from the relevant antitrust authorities.

Bayer and Degussa each owned 50 percent of PolymerLatex, a joint venture established in 1996 that has become a leading supplier of latex products for paper, carpets/molded foam and specialty applications.

Bayer will use the proceeds of this divestment to further reduce net debt.

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