Bayer's sale of Rhein Chemie 'dissolved'

LEVERKUSEN, Germany (Dec. 5)—Bayer A.G.'s sale of its Rhein Chemie Rheinau GmbH to Advent International Corp. has been dissolved by common consent of the parties, which were "unable to agree on a number of outstanding points." Bayer said it is considering various options for Rhein Chemie, which had been on the market for 10 months before Boston-based Advent International put in a bid in October of $212 million. A supplier of specialties to the rubber, lubricant and plastics industries, Rhein Chemie has 1,100 employees and reported 2001 sales of $273 million. The company was profitable, although Bayer does not disclose earnings figures for the subsidiary.