Divestment of Bayer’s diagnostics business to Siemens completed
Wednesday - January 3, 2007 - Leverkusen – The divestiture of Bayer’s diagnostics business to Siemens has been completed. Bayer and Siemens reached agreement on the EUR 4.2 billion transaction in June 2006. The after-tax proceeds of this divestment will be around EUR 3.6 billion and will be used to reduce financial debt.
Bayer HealthCare’s Diagnostics Division had more than 5,000 employees in fiscal 2005 and generated global sales of EUR 1.4 billion.
This news release contains forward-looking statements based on current assumptions and forecasts made by Bayer Group management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in our public reports filed with the Frankfurt Stock Exchange and with the U.S. Securities and Exchange Commission (including our Form 20-F). The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.
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- Günter Forneck
- Head of Media Relations
- Bayer AG
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