Covestro AG (1COV.DE)
17 Nov 2017
Thu, Oct 26 2017
* Shares drop 3 pct (Adds details on size, timing of cash call, industry background)
* Shares jump as much as 7.3 pct to record (Adds CEO quotes, industry background, shares)
FRANKFURT, Oct 24 German plastics and chemicals maker Covestro on Tuesday posted a 50 percent increase in third-quarter core earnings, citing higher selling prices, and also unveiled plans to buy back up to 1.5 billion euros ($1.76 billion) worth of shares.
BERLIN German drugs and pesticides group Bayer said on Friday it had further reduced to just under 25 percent its holding in Covestro , the plastics producer which it demerged in 2015, by selling a 6.9 percent stake for 1 billion euros ($1.2 billion).
* Has raised 4.7 billion in four Covestro stake sales this year
BERLIN, Sept 29 German drugs and pesticides group Bayer said on Friday it had further reduced its holding in Covestro to just under 25 percent by selling a 6.9 percent stake for 1 billion euros ($1.2 billion).
FRANKFURT German drugs and pesticides group Bayer has further reduced its holding in Covestro to 31.5 percent from 40.9 percent by selling 19 million shares in the plastics business for a total of 1.2 billion euros. ($1.4 billion)
* Bayer plans to fully divest Covestro in medium term (Adds background, discount to Tuesday's close, analyst comment)
FRANKFURT, Sept 13 German drugs and pesticides group Bayer said on Wednesday it sold 19 million shares in Covestro, or a 9.4 percent stake, for 63.25 euros apiece in an accelerated bookbuilding.
FRANKFURT German drugs and pesticides group Bayer is selling 1.2 billion euros ($1.4 billion) worth of Covestro shares under its plan to fully sever ties with the plastics business over the medium-term.