Bayer sells Rhein Chemie to Advent International. (Acquisitions, Expansions).Bayer AG Bayer AG German chemical and pharmaceutical company. Founded in 1863 by Friedrich Bayer (1825–1880), it now operates plants in more than 30 countries. Bayer has originated scores of pharmaceuticals, chemicals, and synthetic materials; it was the first developer and , Leverkusen, Germany, intends to sell its subsidiary Rhein Chemie Rheinau GmbH, Mannheim, Germany, to a group of financial investors advised by Advent International Advent International - a long-established and leading global private equity investor Background Advent was founded in 1984 by Peter Brooke and Clint Harris to focus on international private equity investing. , Boston, MA, for EUR EUR In currencies, this is the abbreviation for the Euro. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 215 million, including the assumption of debt. The transaction will include the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. iSL-Chemie GmbH of Kurten, Germany, as well as Rhein Chemie affiliates in the United States and Japan and a Chinese joint venture in which Rhein Chemie owns a 90% interest. Founded in 1889, Rhein Chemie has been a subsidiary of Bayer AG since 1971. The company is an international supplier of specialties to the rubber, lubricant and plastic industries. Its 1,100 employees in Germany and around the world, including 550 in Mannheim, generated global sales in 2001 of approximately EUR 320 million. |
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