Bayer: Temasek raises stake to 4% in capital increase
(CercleFinance.com) - Temasek has raised its stake in Germany's Bayer to approximately 4%, as part of a 3 billion euro capital increase, the chemicals and drugs group said on Tuesday.
The investment company which is headquartered in Singapore bought 31 million of Bayer's new shares, corresponding to around 3.6% of the capital stock, the group said.
"We are very pleased that Temasek has significantly increased its holding in our company. Temasek takes equity positions in leading companies globally and is a long-term investor," said Bayer CEO Werner Baumann.
Bayer said the investment confirms its business strategy, including the planned acquisition of US seed producer Monsanto.
Bayer shares are currently up 1.5% at 99.4 euros in Frankfurt.
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The investment company which is headquartered in Singapore bought 31 million of Bayer's new shares, corresponding to around 3.6% of the capital stock, the group said.
"We are very pleased that Temasek has significantly increased its holding in our company. Temasek takes equity positions in leading companies globally and is a long-term investor," said Bayer CEO Werner Baumann.
Bayer said the investment confirms its business strategy, including the planned acquisition of US seed producer Monsanto.
Bayer shares are currently up 1.5% at 99.4 euros in Frankfurt.
Copyright (c) 2018 CercleFinance.com. All rights reserved.