Lanxess spin-off accomplished
The separation of Lanxess AG from the Bayer Group was accomplished on Friday, January 28, 2005 with the entry of the spin-off of the new chemicals group in the commercial register for Bayer AG. This completes the most fundamental restructuring in Bayer AG's history. Bayer will in future concentrate on its growth- and innovation-driven core businesses in the fields of health care, nutrition and high-tech materials. The portfolio of Lanxess comprises large parts of Bayer's previous chemicals business and about one third of its former polymers business.
By virtue of the spin-off, all the shares of Lanxess AG are being allotted to Bayer AG stockholders in the ratio of one Lanxess share for every ten Bayer shares held. For technical reasons the allotment will not take place until after the close of trading on Friday. The number of Lanxess shares to be allotted to each Bayer stockholder is dependent on the number of Bayer shares he or she holds at that time.
All the shares of Lanxess AG are to be admitted on January 28, 2005 to the Prime Standard sub-segment of the official market segment (Amtlicher Markt) of the Frankfurt Stock Exchange. Trading in the shares of Lanxess AG is scheduled to commence on Monday, January 31, 2005.
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