Merck KGaA (MKGAF.PK) Sells Electronic Chemicals Business To BASF AG (BF) For EUR 270 Million
10/19/2005 5:12:34 PM
DARMSTADT, Germany--(BUSINESS WIRE)--Jan. 28, 2005--
Merck KGaA announced today that it sold its worldwide Electronic Chemicals business to BASF AG of Ludwigshafen for EUR 270 million in order to focus on its innovation-driven businesses of pharmaceuticals and chemicals. The transaction is still subject to approval by antitrust authorities and is expected to close in the second quarter. This move reflects Merck's business strategy of "focused diversification," concentrating on innovation-driven pharmaceutical and chemical businesses with long-term profitability.
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