GERMANY: Schering AG considers sale of Aventis CropScience as most value enhancing option
Schering AG, Germany (NYSE: SHR), and Aventis S.A., Strasbourg, announced yesterday that both companies have reached an understanding with respect to the future course of action for Aventis CropScience, Lyon. Both parties believe that a sale will generate the highest value. It is therefore intended to initiate detailed discussions with Bayer AG, Leverkusen, in order to conclude a purchase agreement as soon as possible. Schering AG holds a 24 percent interest as financial investment in the crop protection business, while Aventis holds a 76 percent majority.
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