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Covestro AG (1COV.DE)

1COV.DE on Xetra

94.88EUR
6:19pm IST
Change (% chg)

€-0.12 (-0.13%)
Prev Close
€95.00
Open
€95.30
Day's High
€95.60
Day's Low
€94.66
Volume
225,420
Avg. Vol
688,290
52-wk High
€95.78
52-wk Low
€61.95

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Thu, Jan 11 2018

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Bayer raises higher than expected 1.8 billion euros from Covestro placement

FRANKFURT Bayer , the drug company that is buying seed maker Monsanto , has raised 1.8 billion euros ($2.15 billion) from selling a 10.4 percent stake in Covestro , nearing a complete divestment from the plastics company.

UPDATE 1-Bayer raises higher than expected 1.8 bln euros from Covestro placement

* Shedding Covestro easing Monsanto funding needs (Adds background on Covestro, Monsanto funding)

Bayer raises more than expected in Covestro placement

FRANKFURT, Jan 11 German drugs and pesticides group Bayer sold 21 million shares in chemicals group Covestro for 86.25 euros per share, raising 1.8 billion euros ($2.15 billion), more than it had expected.

Bayer to sell Covestro shares worth about $1.8 billion

FRANKFURT/MUNICH German drugs and pesticides group Bayer on Wednesday said it was selling more of its stake in chemicals group Covestro , aiming to raise about 1.5 billion euros ($1.8 billion) in an accelerated bookbuilding process.

UPDATE 1-Bayer to sell Covestro shares worth about $1.8 billion

* Covestro shares down in late Frankfurt trade (Adds detail on placement, context)

BRIEF-Bayer offers Covestro shares for 86.25-88.46 eur apiece-Bookrunner‍​

* OFFERS ABOUT 18 MILLION COVESTRO SHARES IN PRICE RANGE OF 86.25-88.46 EUR APIECE -BOOKRUNNER‍​ Further company coverage: (Frankfurt newsroom)

Bayer to sell about $1.8 billion worth of Covestro shares

FRANKFURT, Jan 10 German drugs and pesticides group Bayer on Wednesday said it was further reducing its stake in chemicals group Covestro, aiming to raise about 1.5 billion euros ($1.8 billion) in an accelerated bookbuilding process.

UPDATE 2-Bayer cuts Monsanto deal value to $63.5 bln on revised debt

* Shares drop 3 pct (Adds details on size, timing of cash call, industry background)

UPDATE 1-Foam chemical sales cushion Covestro profit, spur buybacks

* Shares jump as much as 7.3 pct to record (Adds CEO quotes, industry background, shares)

Covestro posts strong rise in Q3 core profit, unveils buyback

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.

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