Bayer makes $726M selling chemical unit to Dow
German pharmaceutical, nutrition and material sciences group Bayer has announced the closing of US conglomerate Dow's acquisition of Wolff Walsrode. The purchase price of 540.0 million euros ($726.2 million) includes a cash component and the assumption of financial debt and pension commitments.
Following regulatory clearance from various authorities around the world, payment and share transfers have occurred, and Dow took full ownership of the Wolff Walsrode group of companies on June 30.
The cash inflows of around 440.0 million euros to Bayer are intended to be used to reduce the German firm's net debt.
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