Utilize the input text as a context reference, choose the right relationship between Covestro and Bayer from the options. Options: product/material produced, manufacturer, distributed by, industry, position held, original broadcaster, owned by, founded by, distribution format, headquarters location, stock exchange, currency, parent organization, chief executive officer, director/manager, owner of, operator, member of, employer, chairperson, platform, subsidiary, legal form, publisher, developer, brand, business division, location of formation, creator.

German chemicals and pharmaceuticals giant Bayer (Milan: BAY.MI - news ) said Friday that it plans to float its polymers business Covestro on the stock exchange in the fourth quarter of this year.

Answer: owned_by