Events After the End of the Reporting Period
After the end of the reporting period – on October 6, 2015 – Covestro (formerly MaterialScience) issued 62.5 million new shares by way of a capital increase. The issue price was €24.00 per share, yielding total proceeds of €1.5 billion. Bayer’s interest in Covestro thus decreased to 69%.
Bonds with a value of €300 million (nominal) were transferred to a pension fund on October 7, 2015.
On October 9, 2015, Bayer CropScience was awarded US$455 million from a three-member arbitration panel of the International Chamber of Commerce (ICC) for infringement of Bayer’s rights concerning its Liberty Link™ weed control system by Dow AgroSciences (DAS). The award is final and binding and now before a U.S. Court for confirmation.