Aventis announces plans for divestment of Aventis CropScience
Berlin, Germany, November 15, 2000; Aventis S.A., Strasbourg, announces today
that it will divest its crop protection and biotech-business Aventis
CropScience. All value-enhancing options including a potential initial
public offering of Aventis CropScience under the name "Agreva" will be
evaluated. Schering AG (NYSE: SHR), which holds 24% stake in Aventis
CropScience, will be involved in this process. We will initiate discussions
to evaluate options and further steps. As soon as we reach an agreement,
we will inform the public.
Schering AG is a research-based pharmaceutical company. Its activities are
focused on four business areas: fertility control and hormone therapy,
diagnostics and radiopharmaceuticals, dermatology as well as therapeutics
for disabling diseases, e.g. multiple sclerosis, leukemia and solid tumors.
As a global player with innovative products Schering AG aims for leading
positions in specialized markets worldwide. With in-house R&D and supported
by an excellent global network with external partners, Schering AG is securing
a promising product pipeline. Using new ideas, Schering AG aims to make a
recognized contribution to medical progress and strives to improve the quality
of life.
An electronic version of this news release - as well as additional information
about Schering AG - is available at www.schering.de
Berlin, Germany, November 15, 2000
Schering AG
Corporate Communication
For further information please contact:
Dr. Friedrich von Heyl
Business and Financial Communication
Tel.: 030 - 468 152 96
Fax: 030 - 468 166 46
[email protected]
Hong Chow
Investor Relations
Tel.: 030 - 468 128 38
Fax: 030 - 468 166 46
[email protected]
