UPDATE 1-Lanxess sells Lustran stake for 35 mln euros

Newswire

(Adds details, share price) FRANKFURT, June 29 (Reuters) - German chemicals group Lanxess is selling its low-profit Lustran polymers unit to Britain's Ineos [INEO.UL], it said on Friday. Lanxess will get an initial payment of 35 million euros ($47.1 million) for a 51 percent stake in Lustran when the first step of the deal closes in September, it said. A second payment linked to the success of the joint venture holding the Lanxess stake is due when Lanxess sells its remaining 49 ...

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