Degussa: Sale of Oncology Operations Now Complete

01-Nov-2001
Following receipt of necessary competition clearance by the antitrust authorities, Degussa AG of Dusseldorf, Germany, has completed the sale of its ASTA Medica Onkology operations to the Baxter Group of the USA. Payment of the purchase price was effected today. Degussa announced the sale of its oncology operations for a purchase price of EUR 525 million - one of the measures in its swift focus on specialty chemicals - in early August. Prof. Dr. Utz-Hellmuth Felcht, Degussa Management Board Chairman, says: "Our purposeful restructuring of ASTA Medica last year has hereby borne further fruit. I am pleased we have sold our excellently-positioned oncology business to a company that apart from being a global leader on the market for medical technology and pharmaceuticals will do an outstanding job in further developing the business we have pursued up to now."

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