Lanxess sells 3 percent stake Warren Buffett

Lanxess sells 3 percent stake to Warren Buffett

5:34 AM, 5th June 2017
Lanxess flag logo

FRANKFURT, GERMANY: Lanxess AG said that Berkshire Hathaway Inc, a conglomerate company run by billionaire Warren Buffett, had acquired a 3 percent stake in the German chemicals maker.

In a regulatory filing, Lanxess said that Berkshire Hathaway's General Reinsurance (Gen Re) subsidiary took a stake that reached just over 3 percent.

The shares held by Gen Re - whose total financial investments excluding cash holdings stood at about $22 billion at the end of last year - were worth about 180 million euros ($200 million) at that time.

Lanxess has said that after recent acquisitions of Chemtura worth a combined 2.6 billion euros more strategic steps could be in the offing in the second half of the year.

© Reuters News



Your Comments (Up to 2000 characters)
Please respect our community and the integrity of its participants. WOC reserves the right to moderate and approve your comment.

Related News

Linde, Praxair merger to shake up industrial gases sector

MUNICH, GERMANY/ DANBURY, US: Linde AG and Praxair Inc have entered into a definitive business combination agreement (BCA) to come together under a ne ...

Read more
Kraton increases prices for Aquatac, Sylvacote product lines

HOUSTON, US: Kraton Corporation (KRA) announced a global price increase of $50-100 per metric tonne for Aquatac, Sylvalite and Sylvatac and ...

Read more
PPG issues statement regarding Dutch AFM decision

PITTSBURGH, US: PPG Industries Inc (PPG) has issued the following statement in response to the decision by the Dutch Authority for the Financial Marke ...

Read more
Shell completes sale of oil sands interests in Canada

THE HAGUE, NETHERLANDS: Royal Dutch Shell plc has completed two previously announced agreements by Shell Canada Energy, Shell Canada Limited and Shell ...

Read more
Covestro receives DNV GL certification for newly developed PU resin

LEVERKUSEN, GERMANY: Covestro AG said that it has received an important DNV GL certification for its newly developed resin system in China. DNV GL i ...

Read more
Clariant appoints BP supply chain director as president, India

MUMBAI, INDIA: Clariant has appointed Adnan Ahmad as region president, India. He succeeds Deepak Parikh who had been leading Clariant's growth strateg ...

Read more uses cookies to ensure that we give you the best experience on our website. By using this site, you agree to our Privacy Policy and our Terms of Use. X