Covestro CEO upbeat as Bayer prepares to sell rest of its stake

摘要

Covestro AG (Leverkusen), formerly Bayer MaterialScience, is embarking on a new chapter following the company's listing on the Frankfurt Stock Exchange last October. Bayer still owns a 65% share in Covestro but will reduce that to zero in the next 12-24 months as it pursues its worldwide ambitions in life sciences, according to Bayer CEO Werner Baumann. This means that the whole of Covestro will be listed on the stock market unless Bayer decides to sell to a buyer from the chemical industry or the financial sector. Patrick Thomas, CEO of Covestro, is upbeat about the company's future.