Pursuant to and in connection therewith, the Company has also entered into an agreement with MLSPL, Merck Specialities (MSPL) and Merck Performance Materials (MPMPL) for the said direct transfer of the BP and PM businesses to MSPL and MPMPL respectively, in accordance with the terms and conditions of the BT A. MSPL and MPMPL are affiliates of MLSPL, all three entities being subsidiaries of the Company's ultimate holding company, Merck KGaA, Dannstadt, Germany.
The completion of the business transfer under the aforementioned agreements is subject to certain closing conditions including receipt of regulatory approvals.
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