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Akzo Nobel Restates Plan to List Pharma Business

1:47 PM MDT | July 25, 2007 | Chemical Week Editorial Staff

Akzo Nobel has restated its intention to divest a 20%-30% stake in its Organon BioSciences (OBS) pharmaceuticals business early this year through an initial public offering, quashing speculation that Akzo will sell OBS to a consortium of private equity companies. “Over the last few weeks, Akzo has received preliminary expressions of interest from a number of parties regarding an acquisition of OBS,” the company says. “Akzo has carefully reviewed these proposals and reconfirms that it remains committed to a separate listing for OBS.”...

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