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BERLIN - German billionaire Susanne Klatten will pay 910 million euros ($1.2 billion) to buy the half of chemical company Altana AG that she did not already own, the company said.
Klatten's investment company, Skion GmbH, will pay 13 euros ($17) for each of the Altana shares that it does not already own. Klatten currently owns 50.1 percent of Altana. She is also acting chairwoman of the company's board.
"Ms. Klatten has been involved in and committed to the development of Altana AG over the years," said Altana Chief Executive Matthias Wolfgruber. "We count Ms. Klatten, and by extension Skion GmbH, as an investor interested in the company's long-term success.
Altana's board of directors could approve the sale this month, the company said in a statement.
Klatten is the daughter of BMW magnate Herbert Quandt. Forbes magazine listed her as the 68th richest person in the world in 2007, with a personal fortune of around $9.6 billion.
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