# Bayer sells further 6.9% Covestro stake for EUR 1 billion, ceding control

Bayer sold a further 6.9 percent of Covestro shares for EUR 1 billion, reducing its direct stake to 24.6 percent and ending control via a control termination agreement effective September 30, 2017.

- Type: Acquisition
- Announced: 2017-09-29
- Where: Germany
- Value: $1.19B (1.00B EUR)
- Status: completed
- Products: polymers, Covestro shares
- Sectors: [Specialty Chemicals](https://endata.com/sectors/specialty-chemicals.md), [Plastics and Polymers](https://endata.com/sectors/plastics-polymers.md)

## Companies

- [Covestro](https://endata.com/companies/1705.md) (target)
- [Bayer](https://endata.com/companies/2148.md) (partner)

## Sources

- [bayer.com](https://www.bayer.com/media/en-us/bayer-cedes-control-of-covestro/), 2017-09-29: "Through the sale of a further 6.9 percent of Covestro shares for EUR 1 billion, the direct interest held by Bayer AG has now been reduced to 24.6 percent."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.