TITLE

Akzo Nobel to sell Organon

AUTHOR(S)
Liming, Keith Tan; Ovrebekk, Hilde
PUB. DATE
March 2007
SOURCE
ICIS Chemical Business Americas;3/19/2007, Vol. 271 Issue 11, p14
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses the plan of Akzo Nobel to sell its stake in Organon BioSciences (OBS) to pharmaceutical group Schering-Plough. The deal, which is estimated at $14.5 billion, is expected to be closed in the second quarter of 2007. The deal increases the price of Akzo stock by 16 percent. Akzo will use the sales proceeds to expand its coatings and chemicals businesses and reduce its pension liabilities.
ACCESSION #
24729101

 

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