RAG’s IPO Postponed Until 2008

The planned initial public offering (IPO) of RAG (Essen, Germany), including Degussa, is not likely to take place before early 2008, RAG chairman Werner Müller says. The IPO was previously expected to take place this fall. Müller, quoted in the German press, cites technical reasons for the delay. Degussa, electricity company Steag, and various real estate assets, will be floated in the IPO under a new company name. Those businesses posted combined 2006 operating profits up 11%, to €1.23 billion ($1.6 billion), on sales up 4%, to €14.8...

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