Jones Lang LaSalle


AFX News Limited
Altana mulls selling pharma ops to financial investors - report
06.19.2006, 03:45 AM

FRANKFURT (AFX) - Altana AG is considering financial investors for the first time as potential buyers for its struggling pharmaceuticals division, after failing to find a strategic partner in the sector, the Financial Times Deutschland reported.

According to financial sources, Goldman Sachs has sent out information packs to several holding companies on behalf of Altana, the FTD said.

A spokesman declined to comment, but said to the newspaper that 'whoever Goldman Sachs spoke to on Altana's behalf, they (would be) partners thinking in the long term'.

Moreover, he said that an earlier statement ruling out the sale to financial investors, made by chief executive Nikolaus Schweickart, was still valid.

Nevertheless, the group stressed it is 'keeping all options open'.

Altana has been looking for a solution for its Pharma business since October, and also wants to spin off its Chemicals operations this year.

ragnhild.kjetland@afxnews.com