Leverkusen, Germany -- Bayer has announced formally that it intends to divest its MaterialScience division through a stock market flotation and focus on its remaining pharmaceutical and agrochemicals businesses.
This follows a considerable period of rumour and uncertainty surrounding the business' future after Marjin Dekkers took over as ceo.
The MaterialScience Business comprises mainly polyurethane and polycarbonate polymers which are more cyclical than the rump pharmaceutical and agrochemicals businesses.
The decision to float the business was made on 2 September by the management board of Bayer AG. This is being considered by the supervisory board which is meeting today, 18 September, 2014. A further announcement is expected later.
