(MENAFN) German pharmaceuticals and chemicals giant Bayer said it has agreed to sell its diabetes care business to Panasonic Healthcare Holdings for USD1.2 billion, AFP reported.
Bayer has entered into a definitive agreement to sell its Diabetes Care business to Panasonic Healthcare Holdings, which is 80-percent owned by US investor KKR and 20-percent by Panasonic Corporation.
"Closing of the transaction is subject to customary conditions, including relevant antitrust clearance, and is expected to occur in the first quarter of 2016," Bayer said in a statement.
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