12 August 1999
Akzo buys vet outlet from Hoechst

AKZO NOBEL is paying Euro665 million (£440m) for Hoechst Roussel Vet, the veterinary business of German chemicals group Hoechst.

Akzo plans to merge the Hoechst business, specialising in vaccines and specialist livestock feeds, with Intervet, its own animal healthcare operation, to produce a company with annual sales of Euro800m (£530m).

The deal will make it the worlds fourth largest participant in the animal healthcare market.