Bayer: completes divestment of animal health subsidiary
(CercleFinance.com) - Bayer announced on Monday that it has completed the sale of its animal health subsidiary to Elanco, the former veterinary pharmaceuticals division of Eli Lilly.
Bayer specifies that it will receive nearly 5.2 billion dollars after the sale is completed, as well as 72.9 million Elanco shares, reprsenting about 15.5% of the US company's capital.
The Leverkusen-based group still says it intends to divest this stake, once the holding period of shares allows it to do so - probably in mid-2021.
Copyright (c) 2020 CercleFinance.com. All rights reserved.