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[February 2007]
Bayer Completes Sale of H C Starck
The Bayer Group has completed the sale of its subsidiary H C Starck to Advent International and The Carlyle Group. As of the closing on 1 February 2007, the two financial investors have acquired the Goslar-based manufacturer of metal and ceramic powders, specialty chemicals and parts made from advanced ceramics and refractory metals.The antitrust authorities in the United States and the European Union have already cleared the transaction, which was agreed on 23 November 2006.
The transaction value of approximately 1.2 billion euro comprises a cash component of more than 700 million euro and the assumption of financial liabilities and personnel-related commitments totalling some 450 million euro.
ENDS