Bayer belatedly submitted a legally required notification for sales of Covestro shares. For this, the group now has to pay a fine of 340,000 euros.
The agrochemical and pharmaceutical company Bayer has to pay a fine of 340,000 euros for a breach of disclosure requirements in share transactions. The financial regulator Bafin announced on Friday. Bayer did not submit voting rights notifications in time.
Bayer wants to pay the fine and waive a possible appeal, as a company spokesman announced. As part of the publicly announced sale of shares in the chemical company Covestro, which was created from Bayer, a legally required notification was submitted late in spring 2018. Bayer has fully cooperated with the Bafin in the investigation.