Akzo Nobel said on Thursday it was to press ahead with plans to launch 20% to 30% of its Organon pharmaceutical arm on the Amsterdam Stock Exchange this year. Last year, Akzo Nobel said it planned to float the pharmaceuticals unit to focus on its chemicals and coatings divisions.
A number of private equity groups had reportedly expressed an interest in Organon, but Akzo Nobel has decided to go ahead with the IPO. ‘After careful consideration, in the interest of all stakeholders we have decided to go ahead with the bourse launch, a spokesman said.
Analysts have estimated Organon could raise €7bn to €10bn.
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