BERLIN, Aug. 6 (Xinhua) -- German pharmaceutical company Bayer and specialty chemicals company LANXESS, are to sell their stakes in the chemical park operator Currenta to funds managed by Macquarie Infrastructure and Real Assets (MIRA), the world's largest infrastructure investor, Bayer announced in a press release on Tuesday.
Both companies signed corresponding agreements with MIRA on Tuesday. And the transaction still requires the approval of the responsible authorities.
Currenta manages and operates infrastructure, energy supply and other essential services across the chemical parks in parts of Germany and is currently a joint venture of Bayer (60%) and LANXESS (40%) and valued with a total enterprise value of 3.5 billion euros (about 3.92 billion U.S. dollars) before deduction of net debt and pension obligations, said the release.
Bayer announced in November 2018 that it was looking to sell its stake in Currenta.
