Soros picks up PolymerLatex for $256 MM. (News).(Bayer AG and Degussa AG will sell PolymerLatex, 50/50 joint venture, to Soros Private Equity Partners)

Chemical Market Reporter, March, 2003

NEARING THE end of their respective major divestment programs, Bayer AG and Degussa AG have agreed to sell PolymerLatex, their 50/50 joint venture, to Soros Private Equity Partners for [euro]235 million ($256 million). Soros says that it intends to develop PolymerLatex's operations and will consider add-on acquisitions to consolidate PolymerLatex's market share in latex products in the paper, carpet/ molded foam and specialty applications sectors.

PolymerLatex, which had sales of [euro]344 million in 2001, is the last of the operations Bayer earmarked for divestiture over a year ago. Since then, the company has raised more than [euro]4 billion from disposals. For Degussa, the sale is also one of its last divestments in a disposals program...

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