FRANKFURT, Feb 9 (Reuters) – Shares in Germany’s Lanxess turned positive in midday trade, with traders pointing to a report that the chemicals firm was in talks to sell a minority stake in its synthetic-rubber unit.
Bloomberg cited two sources as saying two proposals had already been submitted, with one party interested in a stake of about 40 percent. It said potential buyers included Saudi Arabian Oil Co.
A spokeswoman for Lanxess declined to comment on the report.
Shares in Lanxess were 0.2 percent higher at 44.72 euros by 1236 GMT, after turning positive and gaining as much as 1.2 percent versus Friday’s closing price. (Reporting by Maria Sheahan and Ludwig Burger; Editing by Victoria Bryan)
