Aventis split over agchem sell-off

26 March 2001

Aventis split over agchem sell-off

By FWi staff

SENIOR management at life science company Aventis is split over how best to divest its agrochemicals business, reports the Financial Times.

Executives at Aventis CropScience are said to favour an initial public offering, while the Aventis management board is said to favour a trade sale.

Horst Waesche, management board member in Strasbourg with responsibility for agrochemicals, said the company owed it to shareholders to evaluate options.

Aventis has suggested the business may be worth about Euro7.7 billion (4.8bn).

The Franco-German company decided last year to sell off its agrochemical arm to focus on more its profitable pharmaceutical sector.

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