Schering looks to buy
SCHERING, the German pharmaceuticals group, is looking to develop a “fourth leg” in its business portfolio, most probably in the biotechnology sector.
Its stance on acquisitions has been bolstered by the planned sale of its 24% stake in Aventis Crop Science (ACS).
Schering is hoping to pick up DM10bn (£3,45bn) from the sale of the stake in ACS, which will be created by the merger of Hoechst and Rhône-Poulenc.
Scherings stake in ACS derives from its 40% holding in AgrEvo, the agrochemicals business it co-owns with Hoechst.
Schering arranged earlier this year with Hoechst and Rhône-Poulenc to allow it to sell its stake in ACS from 2004.
- Hoechst advances Rhône-Poulenc merger, FWi, yesterday (17 March, 1999)
- Agrochem giant to close 50 plants?, FWi, 22 February, 1999
- Aventis merger “a good fit”, FWi, 21 December, 1998
- Unions approve Hoechst merger, FWi, 09 December, 1998
- Aventis to become agrochem giant, FWi, 04 December, 1998
- Investors cool on Aventis birth, FWi, 03 December, 1998
- Financial Times 18/03/99 page 30