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Akzo Nobel Completes Pharma Division Sale

2:11 PM MST | November 19, 2007 |

Alex Scott

Akzo Nobel said today that it has completed the sale of its pharmaceuticals division Organon Biosciences to Schering-Plough for EU 11 billion ($16.1 billion). Confirmation of the completion of the transaction comes after Schering-Plough received all the necessary approvals, including clearance from the U.S. Federal Trade Commission and the European Commission. The sale paves the way for Akzo’s planned purchase of ICI. “It is with mixed emotions that we say goodbye to these businesses, which have been part of Akzo Nobel for so many years,” says...

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