Bayer completes its $2.45bn Lyondell polyols acquisition
03 April 2000 08:51 [Source: ICIS news]
SINGAPORE (CNI)--Germany's Bayer AG announced Monday that it has completed the $2.45bn (Euro2.57bn) purchase of Lyondell's polyols business, announced last November.
A Bayer release stated: "The acquisition was closed 1 April, making Bayer the world's biggest supplier of polyurethane raw materials."
Bayer's polyurethanes business group recorded sales of Euro2.175bn ($2.088bn) an increase of 5% on the year. The Lyondell acquisition will increase sales to above Euro3.000bn, according to the release.
By: Stefan Baumgarten
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