ALTANA Chemie AG (AAA) Divests Rembrandtin Lack; Concentration On Growth Market Of Packaging Coatings Almost Complete
10/19/2005 5:12:36 PM
BAD HOMBURG, Germany--(BUSINESS WIRE)--Feb. 1, 2005--ALTANA Chemie AG, the specialty chemicals division of ALTANA AG (NYSE:AAA, FWB:ALT), is divesting its Austrian subsidiary, Rembrandtin Lack Ges.m.b.H., Vienna, to EK Mittelstandsfinanzierung AG, the private equity fund of Bank Austria Creditanstalt AG (HypoVereinsbank Group). The respective agreement was signed by the end of January 2005 and is subject to approval of the relevant cartel authorities. The completion of the transaction is expected to take place in the first quarter of 2005. Rembrandtin, a company within the ALTANA Coatings & Sealants business unit, specializes in industrial coatings and road marking paints.
comments powered by