Bayer sells mandatory convertible bond back to Lanxess
The Bayer Group has sold the mandatory convertible bond it purchased in September 2004 back to Lanxess AG at a transaction price exceeding the nominal value. The sale of this bond is in line with Bayer's previously stated intent that it would not pursue a strategic interest with respect to Lanxess.
Bayer had acquired the EUR 200 million bond in its entirety at the nominal value from Lanxess on September 15, 2004, to support the financial status and rating of the new chemical company.
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