Bayer benefits from Covestro’s good performances but already explores selling share

Bayer CEO Werner Baumann confirmed the company plans to fully divest its stake in Covestro over the medium term. The various ways to divest its 64% stake include the sale to a competitor or simply placing shares on the open stock market, which would considerably increase the free float. Covestro was listed in October at the issue price of €24 per share and has now reached €73.5, thanks to the good performance by the Leverkusen-headquartered group.
(Source Reuters)