Lanxess said to be mulling stake sale in synthetic rubber unit

摘要

German chemical company Lanxess is said to be in talks with potential buyers, including Russia's Nizhnekamsknefte-khim and Saudi Arabian Oil Company (Saudi Aramco), for the sale of a minority stake in its synthetic rubber unit. According to a Bloomberg news report, the decision to sell the stake came up as Lanxess battles production overcapacity and weak prices in synthetic rub- ber. Earlier, Lanxess said it has been searching for a strategic partner for a production or marketing alliance to tackle these problems. According to Bloomberg, two proposals had been submitted, with one party interested in buying a stake of approximately 40%.