Ciba Completes Sale of Polymers Unit
June 1, 2000
BASEL, Switzerland — Ciba Specialty Chemicals AG said it has completed the sale of its polymers business unit, a major supplier of epoxy resins, to Morgan Grenfell Private Equity for 1.6 billion Swiss francs ($947 million). Ciba said it sold the business as part of a strategy to concentrate on more profitable specialty chemicals. Morgan Grenfell Private Equity is a unit of Deutsche Bank.