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BRIEF-Bayer CFO says to cut Covestro stake to zero before 2020
September 4, 2015 / 10:09 AM / 2 years ago

BRIEF-Bayer CFO says to cut Covestro stake to zero before 2020

Sept 4 (Reuters) - Bayer

* CFO says in conference call will first place minority stake in Covestro IPO, keep stake of more than 50 pct but wants to cut stake to zero in the longer term

* CFO says to cut stake in Covestro to zero before 2020

* Bayer CFO says to reduce debt as part of Covestro IPO, credit agencies have signalled this to be rating positive for Bayer

* Says will commit not to sell Covestro shares within 180 days after the IPO Further company coverage:

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