News agency Bloomberg reported that German chemical company Lanxess, Cologne, is discussing the sale of a minority stake in its synthetic-rubber unit with potential buyers including Saudi Arabian Oil Co., according to people with knowledge of the matter.
Two proposals have already been submitted, with one party interested in a stake of about 40 percent, said two people, who asked not to be identified because details of the sale process are private. Lanxess confirmed in an e-mailed statement that it‘s in talks with potential partners for its synthetic-rubber business, which generated about 4.5 billion euros ($5.1 billion) in 2014 sales. The company didn‘t give more details.
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