Amsterdam, the Netherlands, November 19, 2007 - Akzo Nobel N.V. has
today completed the sale of Organon BioSciences N.V. to
Schering-Plough Corporation for EUR 11 billion.
Confirmation of the completion of the transaction comes after
Schering-Plough received all the necessary approvals, including
clearance from the U.S. Federal Trade Commission and the European
"It is with mixed emotions that we say goodbye to these businesses,
which have been part of Akzo Nobel for so many years, said CEO Hans
Wijers. "I would like to thank all the OBS employees for their
contributions. I am convinced that Schering-Plough will prove to be a
stimulating new owner, allowing the Pharma activities to flourish and
grow. I wish all the people at OBS a successful future."
Schering-Plough's global headquarters will continue to be based in
Kenilworth, NJ, in the United States, while Boxmeer in the
Netherlands will become the HQ for its worldwide animal health
First announced in March, the divestment of Akzo Nobel's
pharmaceutical activities means that the company can now concentrate
its strategic focus on becoming a world-leading industrial company
exclusively dedicated to coatings and specialty chemicals.
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Note to editors
Akzo Nobel is a Fortune Global 500 company and is listed on Euronext
Amsterdam. It is also the Chemicals Industry leader on the Dow Jones
Sustainability Indexes and Akzo Nobel is included on the FTSE4Good
Index. Based in the Netherlands, we are a multicultural organization
serving customers throughout the world with coatings, chemicals and
human and animal healthcare products. We employ around 62,000 people
and conduct our activities in these four segments, with operating
subsidiaries in more than 80 countries. Consolidated revenues for
2006 totaled EUR 13.7 billion. The financial results for the year
2007 will be published on March 6, 2008.
Not for publication - for more information
Akzo Nobel N.V.
Corporate Media Relations, tel. +31 20 502 7833
Contact: Marc Michelsen