German Biotech sector is attracting U.S. firms
Article Abstract:
Ribozyme Pharmaceuticals Inc. of Boulder, CO, is transferring part of its genetic research activities to a new Berlin, GE-based unit called Atugen Biotechnology GmbH to work closely with Berlin scientists. The move is a sign of the growing trans-Atlantic interest in Germany's biotechnology industry. Atugen will be partly financed with a 13 million mark investment by venture-capital firms from Europe and the US as well as a minimum of 10 million marks in grants and loans from the German government and Berlin authorities. The new unit's estimated financing package is at 90 million marks or US$50 million during the unit's first five years.
Comment:
Is transferring part of its genetic research activities to a new Berlin, GE-based unit called Atugen Biotechnology GmbH
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Hoechst in pact on its paints unit
Article Abstract:
Hoechst AG, the Germany-based chemical giant, will sell its paints unit Herbert GmbH to US buyout company Kohlberg Kravis Roberts & Co. (KKR) for three billion marks ($1.67 billion). The transaction is expected to be approved by Hoechst's supervisory board. It is also the single biggest for KKR in a $4-billion acquisition spree in Europe over the past 15 months. After the sale, Hoechst will still own chemical divisions Celanese and Ticona. Hoechst will use the proceeds of the sale reduce its debt, which totaled 15.8 billion marks at the end of the first half of 1998.
Comment:
Will sell its paints unit Herbert GmbH to US buyout company Kohlberg Kravis Roberts & Co for 3 bil marks
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1998
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Bayer posts healthy rise in second-quarter profit
Article Abstract:
Bayer AG posted a improvement in its pretax profits for the second-quarter of 1999. The company was helped by a major one-time gain from its sell off of its 65% share in Agfa-Gevaert Group. Bayer posted 1.66 billion euros in pretax profits during the quarter. During the same period in 1998, the company posted 11.88 billion euros.
Publication Name: Wall Street Journal. Europe
Subject: Business, international
ISSN: 0921-9986
Year: 1999
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