Covestro AG (1COV.DE)
19 Jan 2018
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.
* Shedding Covestro easing Monsanto funding needs (Adds background on Covestro, Monsanto funding)
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.
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.
* Covestro shares down in late Frankfurt trade (Adds detail on placement, context)
* OFFERS ABOUT 18 MILLION COVESTRO SHARES IN PRICE RANGE OF 86.25-88.46 EUR APIECE -BOOKRUNNER Further company coverage: (Frankfurt newsroom)
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.
* 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.