Bayer AG to Decide in Second Half on IPO or Spinoff for Plastics Unit

(Bloomberg) -- Bayer AG will wait until the second half of the year to decide whether to sell its plastics business in an initial public offering or spin it off after the slow-growing unit dragged down 2014 earnings.

The planned listing of the material science unit by mid-2016 at the latest is on track and the economic and legal separation of the business will be completed by August, Leverkusen, Germany-based Bayer said in a statement Thursday. Sales and profit growth at the unit were the slowest of Bayer’s three businesses last year because of falling prices for the plastics used in smartphones and cars.

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