Macquarie has emerged as the leading bidder for Bayer's 60 percent stake in...
FRANKFURT - Macquarie has emerged as the leading bidder for Bayer’s 60 percent stake in chemical park operator Currenta, which the German drugmaker has put on the block to reduce its debt pile, people close to the matter said.
Talks between Bayer and the Australian bank’s Macquarie Infrastructure and Real Assets arm will likely continue for a few more weeks and the deal could still fall apart given the complexity of the negotiations, they added. Bayer initially planned to sell the Currenta stake - a legacy asset with little benefit for its core drugs and agriculture businesses - to its former industrial chemicals subsidiary Covestro, but could not reach an agreement on valuation.Lanxess, a maker of additives, drug ingredients and leather-tanning chemicals, holds the remaining 40 percent in Currenta. It has a right of first refusal for the remaining shares but has said it would keep its current holding unchanged.
Currenta runs the infrastructure at western German chemical complexes in Leverkusen, Dormagen and Krefeld-Uerdingen, which were once dominated by Bayer.
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