VEBA AG confirmed that it still intends to sell its
subsidiary Stinnes, following the announcement of a merger with fellow German industrial
group VIAG AG.
The future VEBA/VIAG group will be the world’s largest specialty
chemicals group and will focus on chemicals and energy businesses. It will divest from
non-core activities such as transport and logistics.
VEBA currently owns 65.5 percent of the Stinnes group which, in turn,
owns the freight forwarding group Schenkers.
The Stinnes group was listed on the German stock exchange in June
during as part of an initial public offering.
VEBA CONFIRMS PLAN TO SELL STINNES/SCHENKER
VEBA CONFIRMS PLAN TO SELL STINNES/SCHENKER
